Examine the correctness or otherwise of the following statements in accordance with the provisions of GST Act, 2017 and support your answer by giving brief reasons: (iii) A taxable person will be eligible to opt for comp
CS Professional · Advanced Tax Laws · PYQS · December 2020
Examine the correctness or otherwise of the following statements in accordance with the provisions of GST Act, 2017 and support your answer by giving brief reasons: (iii) A taxable person will be eligible to opt for composition scheme only for one out of the three or more business verticals.
Answer & Explanation:
No , composition scheme would become applicable for all the business verticals/registrations which are held by the person with same PAN. [Proviso to Section 10(2) CGST Act, 2017]
Topics: GST
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