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This query is : Resolved
24 November 2022
Due to increases in prices, I fill my turn over may go beyond 1.5 cr .
When should I come out .
If your advise to come out then procedure & precautions required.
Pl help.
When should I come out .
If your advise to come out then procedure & precautions required.
Pl help.
24 November 2022
The moment you cross the threshold you should opt out of composition and opt for regular. You can avail benefit of ITC on GST paid held in stock as on the date of opting out of composition.
24 November 2022
Is there any penalty if there is small delay?
24 November 2022
yes it can be under section 122 general penalty
24 November 2022
Thank you sir for your help.
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