Is any turnover taxes slabs in GST,
Like eailer it was in excise duty.
no not yet decided
10 Replies
Rajesh Kumar
(Advocate- Tax)
(7806 Points)
Replied 15 April 2017
There are no turnover slabs proposed in GST law. Composition scheme can be opted till turnover of Rs. 50 lakhs.
nitin sharma
(PRACTITIONER OF INCOME TAX SALES TAX AND GST)
(72 Points)
Replied 15 April 2017
20 lac for indian and 10 lac for north side and composition 50 lac
CA CMA Sagar Jaiswal
(Finance professional)
(665 Points)
Replied 16 April 2017
Composition is similar to presumptive basis
Aashish Narsinghani
(9 Points)
Replied 16 April 2017
@ Nitin @ rajesh Can explain with me an example?
nitin sharma
(PRACTITIONER OF INCOME TAX SALES TAX AND GST)
(72 Points)
Replied 16 April 2017
The Composition Scheme is one such scheme, applicable to all traders in India with a turnover of ₹ 50 lakh.
nitin sharma
(PRACTITIONER OF INCOME TAX SALES TAX AND GST)
(72 Points)
Replied 16 April 2017
like a traders who not want to maintain monthly return or pay monthly then they choose composition return. in which return he filled one return in the whole year
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