is below 20 lacs turnover is allowable for compositions scheme
Mafiz Uddin (59 Points)
02 August 2017is below 20 lacs turnover is allowable for compositions scheme
Studentsca
(CA Practice )
(3577 Points)
Replied 02 August 2017
Vinay Garg
(Student cum businessman cum professional)
(859 Points)
Replied 02 August 2017
RAJA P M
("Do the Right Thing...!!!")
(127921 Points)
Replied 02 August 2017
Henry Vakharwala
(155 Points)
Replied 02 August 2017
RAJA P M
("Do the Right Thing...!!!")
(127921 Points)
Replied 02 August 2017
srinivas
(Finance Manager)
(239 Points)
Replied 03 August 2017
Hi,
composition scheme turnover limit is INR. 75 Lakhs ( INR.50 Lakhs for few States)
Following individuals are not allowed to choose the composition scheme:
1) a casual taxable character or a non-resident taxable person;
2) suppliers whose mixture turnover inside the previous economic year crossed Rs. 75 lakhs;
3) provider who has bought any goods or services from unregistered provider except he has paid GST on such items or services on reserve charges basis;
4) supplier of services, aside from eating place provider;
5) persons supplying goods which are not taxable under GST law;
6) persons making any inter-state outward substances of goods;
7) suppliers making any supply of goods through a digital trade operator (Like amazon, ebay etc.,)who's required to acquire tax at source under section 52; and
8) a producer of following goods:
Live class on PF & ESI Enrollment & Returns Filing(with recording)
CAclubindia
