Composition scheme eligibility clarified: exempt supplies including interest or discount do not bar eligibility and are excluded from turnover. Confirms that a taxable person supplying goods/services specified in Schedule II and also supplying exempt services, including services by way of deposits, loans or advances where consideration is interest or discount, remains eligible for the composition scheme if other conditions are satisfied. For eligibility determination, the aggregate turnover calculation shall exclude the value of such exempt services including interest or discount.
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Composition scheme eligibility clarified: exempt supplies including interest or discount do not bar eligibility and are excluded from turnover.
Confirms that a taxable person supplying goods/services specified in Schedule II and also supplying exempt services, including services by way of deposits, loans or advances where consideration is interest or discount, remains eligible for the composition scheme if other conditions are satisfied. For eligibility determination, the aggregate turnover calculation shall exclude the value of such exempt services including interest or discount.
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