Composition Limit

1.5 crore (latest amendment)

will you please send Notification Number for Reference..as i was in the same opinion, but couldn't find Notification.

Sry i dont have notification reference..
As i was a IPCC student, my faculty told me that 1.5 cr was the latest amendment..
but for may 2018 examination, 1.5 cr will not apply.. (as the amendment was after oct 31,2017)
(1 cr will apply for may 18 exam)

Dear Amit, As on date, it is one crore only, refer notificatin no 46/2017. https://vamshigst.blogspot.in/2018/01/cgst-notifications-issued-till-date.H T M L?m=1 In one of the council meetings it was decided to increse the limit upto 1.5cr. But no notifications were issued till date. Since the amount is higher than the upper limit specified in sec10, it requires the amendment of the act. The same is expected in this budget. Regards, Vamshi

Thanks for perfect Answer as i was thinking about....

As per 10(1) eligilibity for composition scheme says limit is 1.5 cr of turnover and 1cr turnover for special states
Turnover includes exmpted sales also