Composition scheme eligibility: excluded interest or discount on deposits, loans and advances not counted for turnover calculations. The value of exempt services by way of extending deposits, loans or advances, insofar as the consideration is represented by interest or discount, shall not be taken into account for determining eligibility for the composition scheme under the second proviso to section 10(1) and shall not be included in computing aggregate turnover for composition eligibility purposes.
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Provisions expressly mentioned in the judgment/order text.
Composition scheme eligibility: excluded interest or discount on deposits, loans and advances not counted for turnover calculations.
The value of exempt services by way of extending deposits, loans or advances, insofar as the consideration is represented by interest or discount, shall not be taken into account for determining eligibility for the composition scheme under the second proviso to section 10(1) and shall not be included in computing aggregate turnover for composition eligibility purposes.
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