limit for composition Scheme
if goods and services both income
5 Replies
Akshay Jain
(Tax Consultant)
(1024 Points)
Replied 03 September 2019
for composition levy, scheme it's 1.t cr
Shivam RC
(Student)
(23683 Points)
Replied 03 September 2019
Turnover limit for COMPOSITION SCHEME U/s 10 of the CGST Act 2017 :
1). Composition Scheme for taxpayers dealing in EXCLUSIVE SUPPLY OF GOODS : "Rs. 1.5 crore." ( including dealer dealing in supply of Para 6 clause (b) of Schedule II of the CGST Act 2017 i.e. Restaurant Business ).
2). Composition Scheme for taxpayers dealing in Mixed Supply ( i.e. both supply of goods and supply of services ) = "Rs. 50 lakhs."
However in case (1). , Dealers can deal in Supply of Services upto 10% of their Turnover or Rs. 5 lakhs whichever is "HIGHER". ( As amended by the CGST Act 2018 notified on 29.08.2018 ).
1). Composition Scheme for taxpayers dealing in EXCLUSIVE SUPPLY OF GOODS : "Rs. 1.5 crore." ( including dealer dealing in supply of Para 6 clause (b) of Schedule II of the CGST Act 2017 i.e. Restaurant Business ).
2). Composition Scheme for taxpayers dealing in Mixed Supply ( i.e. both supply of goods and supply of services ) = "Rs. 50 lakhs."
However in case (1). , Dealers can deal in Supply of Services upto 10% of their Turnover or Rs. 5 lakhs whichever is "HIGHER". ( As amended by the CGST Act 2018 notified on 29.08.2018 ).
Akshay Jain
(Tax Consultant)
(1024 Points)
Replied 03 September 2019
same to Shivam sir
above its mistakenly sent and it's not deleted or edited
above its mistakenly sent and it's not deleted or edited
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