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composition leavy

Arun Goyal (5 Points)

28 July 2019

Dec 2019 k attempt k liye composition leavy me turnover ki
limit Kya hai?

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Shivam RC (Student) (23683 Points)
Replied 28 July 2019

The Persons whose Aggregate Turnover does not exceed Rs. 1.5 crore can opt to pay Tax under Section 10 of the CGST Act 2017 i.e. Composition Scheme.

Rs. 1.5 crore Turnover limit will be applicable for Nov/Dec 2019 attempt.

Warm Regards.

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Arun Goyal (5 Points)
Replied 28 July 2019

is app me to 50 lakh hai

Shivam RC (Student) (23683 Points)
Replied 28 July 2019

Initially it was Fifty Lakhs Rupees.

Refer the First Proviso to Section 10(1) of the CGST Act 2017, which states that the said limit of Fifty Lakhs Rupees can be extended upto Rs. 1.5 crore. The CGST ( Amendment ) Act 2018 has increased the maximum statutory threshold limit to Rs. 1.5 crore.

The CBIC has issued Notification No. 14/2019 - Central Tax, dated 07.03.2019 inorder to increase the Threshold Limit to Rs. 1.5 crore.

Provided that the said aggregate turnover in the preceding financial year shall be "SEVENTY-FIVE LAKHS RUPEES" in the case of an eligible registered person, registered under section 25 of the CGST Act 2017 , in any of the following States, namely :-

(i) Arunachal Pradesh,
(ii) Manipur,
(iii) Meghalaya,
(iv) Mizoram,
(v) Nagaland,
(vi) Sikkim,
(vii) Tripura,
(viii) Uttarakhand.

Understood ???

Warm Regards.

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