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composition scheme

104 views 3 replies

saikumar

Student CA IPC / IPCC

53 Points Joined September 2014

now what is the limit of turnover for applying for comparison scheme,
when it is increased from 1cr to 1.5 cr ??

Replies (3)

Jatin

Accountant

3479 Points Joined August 2014

Wait for notifications

Pankaj Rawat

GST Practitioner

55067 Points Joined June 2017

Till date its 1crore , & the maximum prescribe in act is 1crore , so it needs to be change in Act. no notification can issue in this regard without increasing limit in Act first.

Shivam RC

Student

23688 Points Joined November 2017

Agree with Pankaj Sir....

The statutory limit is ₹ 1 crore to opt for Composition Scheme u/s 10 of CGST Act 2017. To increase this limit, the Goverment have to amend the Act [ which is in process - CGST (AMENDMENT) BILL 2018 ].