Composition scheme eligibility clarified: supplying specified goods/services and exempt interest services does not bar composition. Clarifies that a person supplying Schedule II goods or services and exempt services, including deposits, loans or advances where consideration is interest or discount, is not ineligible for the composition scheme if other conditions are met; and when computing aggregate turnover for composition eligibility, the value of such exempt services shall be excluded.
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Provisions expressly mentioned in the judgment/order text.
Composition scheme eligibility clarified: supplying specified goods/services and exempt interest services does not bar composition.
Clarifies that a person supplying Schedule II goods or services and exempt services, including deposits, loans or advances where consideration is interest or discount, is not ineligible for the composition scheme if other conditions are met; and when computing aggregate turnover for composition eligibility, the value of such exempt services shall be excluded.
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