Composition scheme eligibility: exempt services and interest/discount excluded from aggregate turnover under GST rules, preserving access. Clarifies that a supplier of goods and/or services under clause (b) of paragraph 6 of Schedule II who also supplies exempt services, including services by way of extending deposits, loans or advances where consideration is interest or discount, is not ineligible for the composition scheme if other conditions are met; and that 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: exempt services and interest/discount excluded from aggregate turnover under GST rules, preserving access.
Clarifies that a supplier of goods and/or services under clause (b) of paragraph 6 of Schedule II who also supplies exempt services, including services by way of extending deposits, loans or advances where consideration is interest or discount, is not ineligible for the composition scheme if other conditions are met; and that the value of such exempt services shall be excluded from the computation of aggregate turnover for determining composition eligibility.
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