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Quarterly submission

01 April 2019

Hi,
Company aggregate turnover less then 1.5cr.

Financial year 2018-19 we filled monthly returns.

If we change monthly to quarterly Current financial year we can claim ITC ?
or Treating me as composisson delar?

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3 Replies

ca.nsrawt (Legal Consultancy) (256 Points)
Replied 01 April 2019

Dear P C Rama Raju,

You can claim credit if you go for monthly mode but it's not possible in composition scheme.

Regards,

Naveen Singh

9716822331

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Mohit Jagnani (Professional - CA firm) (524 Points)
Replied 01 April 2019

Hi,

You need to understand that opting for quarterly return and composition levy are two different options available with the tax payer

For further assistance kindly reach out to us

HAPPY TO HELP

MOHIT JAGNANI
8820448170

ElsaD (Admin) (30 Points)
Replied 13 April 2019

Yes, the trend of quarterly payments is good because it states that you have to pay all financial bills related to government four times a year. This https://essayreviewexpert.com/review/edubirdie/ article can also help this company in making a good turnover. I hope if my suggestion/comment will help you in any way and I feel it privilege.