Composition scheme eligibility clarified: exempt services and interest-based receipts excluded from aggregate turnover determination for composition eligibility. Supplies of goods or services under clause (b) of paragraph 6 of Schedule II and exempt services consisting of extending deposits, loans or advances where consideration is interest or discount do not make a person ineligible for the composition scheme provided other conditions are met, and the value of such exempt services shall be excluded from the computation of aggregate turnover for determining composition eligibility.
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Provisions expressly mentioned in the judgment/order text.
Composition scheme eligibility clarified: exempt services and interest-based receipts excluded from aggregate turnover determination for composition eligibility.
Supplies of goods or services under clause (b) of paragraph 6 of Schedule II and exempt services consisting of extending deposits, loans or advances where consideration is interest or discount do not make a person ineligible for the composition scheme provided other conditions are met, and the value of such exempt services shall be excluded from the computation of aggregate turnover for determining composition eligibility.
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