composition scheme

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56 Points Joined June 2017
what is the threshold limit 1cr or 1.5 cr
is council decision notified by government for threshold of 1.5 cr .?
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On 29 May 2018 at 10:50 Report
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Chartered Accountant
4524 Points Joined July 2014
Businesses with annual turnover upto Rs 1.5 crore* can opt for composition scheme.

Turnover of all businesses with same PAN has to be added up to calculate turnover for the purpose of composition scheme.

Only Manufacturers of goods, Dealers, and Restaurants (not serving alcohol) can opt for composition scheme.

 
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On 29 May 2018 at 10:54
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24196 Points Joined May 2018
Yes now the threshold limit is extended to 1.5 cr for composition scheme
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On 29 May 2018 at 14:18


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