Composition scheme eligibility clarified: interest or discount on deposits, loans or advances excluded from 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 sub section (1) of section 10, nor in computing aggregate turnover for composition eligibility.
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Composition scheme eligibility clarified: interest or discount on deposits, loans or advances excluded from 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 sub section (1) of section 10, nor in computing aggregate turnover for composition eligibility.
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