composition scheme

212 views 5 replies
User Avatar

1 Points Joined June 2017
in section 10(1) other sutdy material tournover amount written not exceed 1 croro rupees (75 lakh for special category state except Uttarakhand and jammu & kashmir)
what is correct tournover amount kindly help on that
0 Reply Share Follow
On 21 July 2019 at 19:30 Report
Replies (5)
User Avatar

GST Practitioner
55067 Points Joined June 2017
In terms of Notification 14/2019 CT 7/3/2019 is being increased to 1.5 Crore , w.e.f. 1/4/2019
Reply
On 21 July 2019 at 20:57
User Avatar

Student
23688 Points Joined November 2017
At present it's Rs. 1.5 crore. The CGST Act has been amended to increase the statutory turnover limit from Rs 1 crore to Rs. 1.5 crore.

The study material may not have noted the amendment.
Reply
On 21 July 2019 at 22:30
User Avatar

GST Practitioner
55067 Points Joined June 2017
First proviso under Section 10(1)(b) , it's being clearly mentioned being 1crore limit is substituted by 1.5crore
Reply
On 23 July 2019 at 09:12
User Avatar

Student
37 Points Joined April 2019

 Small taxpayers can get rid of tedious GST formalities and pay GST at a fixed rate of turnover.

Reply
On 23 July 2019 at 12:06
User Avatar

GST Practitioner
55067 Points Joined June 2017
Yes can opt for Composition scheme, flat 1% GST on Turnover, No ITC available
Reply
On 24 July 2019 at 23:48


CCI Pro

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Threads

More recent discussions | Post

Related Threads
Loading