Composite dealer limit for 1.5cr or 2cr
This query is : Resolved
14 August 2020
A taxpayer at present gst regular scheme registered under gst act.tax payer both type of goods and services business running.if a tax payer gst regular scheme conversion( change) to composite scheme registration
Doubt:
Tax payer for selling goods turnover limit rs:1.5cr pay tax @ 1%and for services turnover Limit rs:50 lacs pay tax @6% total composite scheme dealer turnover threshold limit rs1.5cr or 2 cr applicable in gst act.
Doubt:
Tax payer for selling goods turnover limit rs:1.5cr pay tax @ 1%and for services turnover Limit rs:50 lacs pay tax @6% total composite scheme dealer turnover threshold limit rs1.5cr or 2 cr applicable in gst act.
15 August 2020
Turnover limit applicable 1.50cr.
Composition dealer can provide services to an extent of 10% of turnover or Rs 5 lakh, whichever is higher, if they are a manufacturer or trader.
Composition dealer can provide services to an extent of 10% of turnover or Rs 5 lakh, whichever is higher, if they are a manufacturer or trader.
15 August 2020
These are two composition scheme. One of Rs.1.5 cr limit and the other Rs.50 lakhs. You cannot opt for both schemes simultaneously. So your t/o limit will be either 1.5 cr. or 50 lakhs but not Rs. 2 crores.
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