
Dear Professional Seniors & Friends,
Warm Greeting!
Here is the Next post of #MCQ on concept based practical professional knowledge on Determination of Aggregate Turnover for the Purpose of Composition Scheme in a unique manner to be self answered by participants. The detailed answer of these MCQs shall be posted next day for the self assessment of the participants.
MCQ 81.1: Mr X supplies Taxable goods worth Rs 90Lacs and Exempt services worth Rs 30 Lacs. What would be the Aggregate turnover in order to determine his eligibility for Composition Scheme as per GST.
A. 30Lacs, Eligible for Composition scheme
B. 90Lacs , Eligible for composition scheme
C. 120Lacs , Eligible for composition scheme
D. 120 Lacs, Not Eligible for Composition Scheme
MCQ 81.2: If in the above case ,Mr X is a Restaurant owner and he provides restaurant service. What would be the Aggregate turnover in order to determine his eligibility for Composition Scheme.
A. 30Lacs, Eligible for Composition scheme
B. 90Lacs , Eligible for composition scheme
C. 120Lacs , Eligible for composition scheme
D. 120 Lacs, Not Eligible for Composition Scheme
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CA Sanjay Kumar Agrawal
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Dear Professional Seniors & Friends,
Warm Greetings!
This post of MCQ is on provisions relating to Determination of Aggregate Turnover for Composition Scheme in GST Regime.
Answer to MCQ 81.1: D. 120Lacs , Not Eligible for composition scheme
Answer to MCQ 81.2: B.90Lacs , Eligible for composition scheme
Practical Analysis for MCQ 81.1
Determination of Aggregate Turnover for Composition Scheme under GST
Gross Total 120Lacs > 1 Crore
Based on the above analysis, correct answer to 81.1: D. 120Lacs, Not Eligible for composition scheme
Practical Analysis for MCQ 81.2
Aggregate turnover is determined on the basis of Section 2(6) of the CGST Act ,however there is an special exception to a person who supplies Restaurant Service.
Aggregate Turnover=90Lacs < 1 Crore
Thus eligible to be Registered Under Composition Scheme.
Correct answer to MCQ 81.2 : B.90Lacs , Eligible for composition scheme –
(Disclaimer: The objective of the MCQ post is just to discuss the concept, it may happen, by change of facts, the answer may be different. Please do not treat this as professional opinion; you can definitely have your own opinion.)
Sincere Regards!
CA Sanjay Kumar Agrawal
Mobile: 9810116321
To access MCQ posts regularly, please Join Telegram Channel:
https://t.me/caSanjayKumarAgrawal
For All MCQ post please click on:
Webpage: http://www.casanjay.me/
Facebook: https://www.facebook.com/CA.Sanjay.K.Agrawal/
Linkedin: https://www.linkedin.com/in/ca-sanjay-kumar-agrawal/
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