GST EXEMPTION LIMIT
This query is : Open
03 July 2017
please provide solution
I have a business and dealing with goods and my annual turnover is not crossing the limit of 75 lacs and also the exemption limit of rupees 20 lacs
there are some questions
1 should I opt for composition scheme
2 what if my annual turnover does not exceed 15 lakh and I have opted for composition scheme what shall be the amount of GST
3 what if my annual turnover exceed 8 rupees 20 lakh and I've opted for composition scheme what shall be the amount of GST
03 July 2017
1.Yes you can.
2. If register you have to pay tax@1% no matter whats your turnover.
3.You can opt in composition if your turnover is above 2000000. Tax is 1% in that case also.
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