Composition scheme eligibility clarified: interest or discount on deposits, loans or advances excluded from turnover and eligibility calculations. The Order clarifies that the value of exempt services by way of extending deposits, loans or advances, where consideration is represented by interest or discount, shall not be taken into account for determining eligibility for the composition scheme under Section 10 and shall not be included in computing aggregate turnover for eligibility purposes.
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Composition scheme eligibility clarified: interest or discount on deposits, loans or advances excluded from turnover and eligibility calculations.
The Order clarifies that the value of exempt services by way of extending deposits, loans or advances, where consideration is represented by interest or discount, shall not be taken into account for determining eligibility for the composition scheme under Section 10 and shall not be included in computing aggregate turnover for eligibility purposes.
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