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
5 Replies
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 21 July 2019
In terms of Notification 14/2019 CT 7/3/2019 is being increased to 1.5 Crore , w.e.f. 1/4/2019
Shivam RC
(Student)
(23683 Points)
Replied 21 July 2019
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.
The study material may not have noted the amendment.
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 23 July 2019
First proviso under Section 10(1)(b) , it's being clearly mentioned being 1crore limit is substituted by 1.5crore
kailasha
(Student)
(37 Points)
Replied 23 July 2019
Small taxpayers can get rid of tedious GST formalities and pay GST at a fixed rate of turnover.
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 24 July 2019
Yes can opt for Composition scheme, flat 1% GST on Turnover, No ITC available
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