Composition levy
This query is : Resolved
04 April 2019
IF TURNOVER FOR FY2018-19 EXCEEDS 1 CRORE THAN ASSESSEE CAN CONTINUE UNDER COMPOSITION OR HE HAVE TO CONVERT TO REGULAR .LIMIT OF 1.5 CR IS APPLICABLE FOR 1-4-19
04 April 2019
Since the threshold increase to 1.5 crore is effective from april 2019 and it has not been given retrospective effect, if turnover exceeded Rs 1 crore shift to regular scheme.
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