GST EXEMPTION LIMIT
This query is : Open
Himanshu Rupela
(Querist)
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
CA Rashmi Gandhi
(Expert)
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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