Composition scheme eligibility clarified to exclude exempt interest or discount services from disqualification and aggregate turnover calculation. Suppliers who both provide supplies under clause (b) of paragraph 6 of Schedule II and exempt services by way of extending deposits, loans or advances with consideration represented by interest or discount shall not be ineligible for the composition scheme if other conditions are met. In computing aggregate turnover to determine composition eligibility, the value of such exempt services represented by interest or discount shall be excluded.
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Composition scheme eligibility clarified to exclude exempt interest or discount services from disqualification and aggregate turnover calculation.
Suppliers who both provide supplies under clause (b) of paragraph 6 of Schedule II and exempt services by way of extending deposits, loans or advances with consideration represented by interest or discount shall not be ineligible for the composition scheme if other conditions are met. In computing aggregate turnover to determine composition eligibility, the value of such exempt services represented by interest or discount shall be excluded.
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