Composition scheme eligibility clarified: exempt interest and discount income excluded from aggregate turnover, preserving scheme access. Suppliers of goods or services under clause (b) of paragraph 6 of Schedule II who also supply exempt services, including interest or discount on deposits, loans or advances, are not ineligible for the composition scheme if other conditions are met; the value of such exempt services shall be excluded from aggregate turnover when determining composition eligibility under section 10 of the Act.
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Provisions expressly mentioned in the judgment/order text.
Composition scheme eligibility clarified: exempt interest and discount income excluded from aggregate turnover, preserving scheme access.
Suppliers of goods or services under clause (b) of paragraph 6 of Schedule II who also supply exempt services, including interest or discount on deposits, loans or advances, are not ineligible for the composition scheme if other conditions are met; the value of such exempt services shall be excluded from aggregate turnover when determining composition eligibility under section 10 of the Act.
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