Hi,
Yes, you can opt for composition scheme.
Opting for GST Composition scheme
Hi, I have recently joined a State Govt Skill Development Corporation as a consultant in Skill Development. I am consultant in Engineering profession. In the new assignment Consultant fee per month is Rs. 3 Lac. In my previous assignment annual fee was less Rs.32 lacs. My previous year fee was also less than Rs. 32lac. Can I opt for GST Composition scheme?
Asked 5 years ago in GST
The new employer has informed that the fee is inclusive of TDS and GST. will the employer deduct GST and pay the fee or will I get fee with TDS deduction only and I pay the GST? Please let me know.
Asked 5 years ago
Hello,
Yes, you can opt for the Composition Scheme.
I hope that this answer satisfies your requirements.
Regards,
CA Hunny Badlani
You need to issue an invoice to the company. If they are paying you a fixed amount and not paying GST in addition, you simply need to do reverse calculation of GST according to the amount so received.
Firstly, if you under employment with this organisation, No GST is applicable.
If you are providing services as a professional(TDS deduction u/s. 194J), then GST is applicable.
Regarding, GST deduction, since the concerned organisation is a government entity, they are required to deduct TDS under GST, if the contract value exceeds Rs. 2,50,000. This deduction of GST would be available as a credit to the supplier(you) while making payment of your GST liability.
Hello Sir,
Yes, you can opt the composition scheme.
Yes you can opt for composition scheme as you are below threshold limit.
But you wont be able to reverse calculate GST.
Your GST would be 36 * 6% i.e. 216000.
Hope you find the information helpful if you do please rate it 5 and provide your valuable feedback for my improvement.
Thank you.
First thing is not possible.
He will just deduct TDS and you need to pay GST on full amount as mentioned above.
Hi
Yes, you may opt for composition scheme. The rate of tax shall be 6% and you cannot collect it from the customers.
Under composition scheme, you can't claim ITC. You should consider to go for composition scheme in case you don't have many input services on which GST is charged.
The service receiver shall deduct TDS and make you the payment. You have to pay GST additionally (if opting for composition) or pay GST by reverse calculation (if under regular scheme).
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