turnovers limit of Rs 20 lacs for registration is considered of current year 2017-18 or last year 2016-17?
N limit of Rs 75 lacs is for last year or current year?
5 Replies
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 16 July 2017
Yes I agreed to Mr. Sandeep.
Turn Over is Our last FY transactions or previous business transactions if less than a Year....
Turn Over is Our last FY transactions or previous business transactions if less than a Year....
Mohit
(Student CA Final )
(61 Points)
Replied 16 July 2017
for composition scheme it's previous FY turnover but for 20 lakhs it's current year turnover
Sandeep Upadhyay
(1518 Points)
Replied 17 July 2017
"If one is carrying out any business and has an annual aggregate turnover in the preceding financial year exceeding Rs 20 lakh, you need to register in all the states/ Union Territories from where you are making taxable supplies,"
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