Composition scheme
This query is : Resolved
09 July 2017
Hi,
I applied for registration of GST as a composition dealer as last year my turnover is RS 70Lacs and also recieved the RC.
My 1st Quarter turnover is Rs 15 lacs approx.
Recently i watched the GST Masterclasse 3rd episode launched by Revenue secratery of India ( Dr Hasmukh Aadiya ) on youtube, In which they are saying that 1st quarter turnover is also to be included in the limit for calculating Turnover of Rs 75 Lacs.
Now, My concern is that i applied and received the Registration Certificate as a composition dealer by interpreting that my last yr turnover is below 75 lacs.
And as per Revenue Secretary of India , I m not eligible to opt for composition scheme , So in that case what should I do?
Please Suggest...
I applied for registration of GST as a composition dealer as last year my turnover is RS 70Lacs and also recieved the RC.
My 1st Quarter turnover is Rs 15 lacs approx.
Recently i watched the GST Masterclasse 3rd episode launched by Revenue secratery of India ( Dr Hasmukh Aadiya ) on youtube, In which they are saying that 1st quarter turnover is also to be included in the limit for calculating Turnover of Rs 75 Lacs.
Now, My concern is that i applied and received the Registration Certificate as a composition dealer by interpreting that my last yr turnover is below 75 lacs.
And as per Revenue Secretary of India , I m not eligible to opt for composition scheme , So in that case what should I do?
Please Suggest...
09 July 2017
You can opt out of composition scheme.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Showing Gift from relative in ITR for this year
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR selection for salaries and capital gain less than L
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- Soyabean hsn code and gst rate
- Treatment of Pension ?annuity returns on PMVY
- Last year TDS Claim
- Scrutiny assessments u/s 143(2) for AY 25-26
- Regarding IMS Mandatory from 1st July 2026
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- One Post a Week Done Right Beats Seven Done Wrong
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- LTCG on switch of units
- ITR 2 Short Term gain & Long term gain
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
