Composite dealer
Kollipara Sundaraiah (B.com) (2963 Points)
25 July 2020Person composite scheme 1%tax rate eligible or not.
Kollipara Sundaraiah (B.com) (2963 Points)
25 July 2020
Sandeep shetty
(Sr Accountant)
(292 Points)
Replied 25 July 2020
A taxpayer whose turnover is below Rs 1.5 crore can opt for Composition Scheme. In case of North-Eastern states and Himachal Pradesh, the limit is now Rs 75 lakh.
As per the CGST (Amendment) Act, 2018, a composition dealer can also supply services to an extent of ten percent of turnover, or Rs.5 lakhs, whichever is higher. This amendment will be applicable from the 1st of Feb, 2019
Shivam RC
(Student)
(23683 Points)
Replied 25 July 2020
annu Goyal
(1102 Points)
Replied 26 July 2020
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)