I'm doing a retail business and providing a service
my Retail Business TO is1.4 Crorer
and my Service TO is 4 laks
Will i able to Opt composition scheme????
Yes, As per the CGST (Amendment) Act, 2018, a composition dealer can also supply services to an extent of ten percent of turnover, or Rs.5 lakhs, whichever is higher. This amendment is applicable from the 1st of Feb, 2019.
Limit for composition scheme is 1.5 Crore in amendment act, But yet to receive further notifications for date of implication.
CAclubindia
