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Composition Dealer

Faheem Akram (802 Points)

16 April 2019

I m compostion Dealer If I cross the limit of Composition so what to do if the excess turonvoe after limit Cross??

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7 Replies

Ali Ahmed Khan (CA Student) (245 Points)
Replied 16 April 2019

For FY 19-20 Composition dealer limit is 1.5 Cr, except northeastern states which have 75 Lacs, if u have crossed this specified limit then immediately take Registration as Regular taxpayer within one month .

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Faheem Akram (802 Points)
Replied 16 April 2019

What will be treatment of exceed value of Turnover...... Normally pay under Composition tax or pay Regular rate???

Ali Ahmed Khan (CA Student) (245 Points)
Replied 16 April 2019

From the day you exceed the limit u have to pay GST on regular basis.. There shall be no separate treatment of exceed limit. Total turnover will be taken into account to determined the regular GST payment...

Faheem Akram (802 Points)
Replied 16 April 2019

What will be treatment of beyond limit of turnover......

Ali Ahmed Khan (CA Student) (245 Points)
Replied 16 April 2019

First get get amend the registration in regular from Composition, then paid whole turn over in regular GST , no separate taxability of beyond limit of turn over. Henceforth complete Turnover will come under Regular basis....