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composition limit

ashish kumar (6 Points)

04 February 2019

what is the actual limit for composition dealers now ?

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7 Replies

Upendra Neduri (164 Points)
Replied 04 February 2019

PRESENT LIMIT IS 1 CRORE.

BUT IT IS PROPOSED TO BE INCREASED TO 1.5 CRORE AS PER RECENT GST COUNCIL MEET. (W.E.F FROM 01.02.2019)

BUT WE HAVEN'T RECEIVED ANY OFFICIAL NOTIFICATION.

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Sanjiv Rajpoot (3430 Points)
Replied 05 February 2019

one crore...........

2 Like

CA Akshay Hiregange (Partner - Audit & Assistance) (4825 Points)
Replied 05 February 2019

It is 1.5 crore. Limit recently increased through CGST Amendment Act 2018 (w.e.f 1.2.19) notified through Circular 2/2019-Central Tax.

CA Akshay Hiregange (Partner - Audit & Assistance) (4825 Points)
Replied 05 February 2019

Please read Circular as Notification*

ashish kumar (6 Points)
Replied 05 February 2019

can u provide link for the notification

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CA Akshay Hiregange (Partner - Audit & Assistance) (4825 Points)
Replied 05 February 2019

Please refer CBIC website. https://www.cbic.gov.in/htdocs-cbec/gst/index

CA Akshay Hiregange (Partner - Audit & Assistance) (4825 Points)
Replied 08 February 2019

Please note, the upper limit has been increased in the Act. The present limit remains at 1 crore and would be upgraded to 1.5 crore post notification only.