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.
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
- Depreciation Chart Companies Act
- EPF ECR NEW FILE SEP 17TH 2026
- Capital Gail Exemption Certificate
- Oct 2025 Invoices
- Import of Software Service.
- SECTION 393(3) TAX ON CASH WITHDRAWAL
- Clarification Requested: Gift → NRO → NRE → Overseas Transfer - USA/CANDA (FEMA & Tax Compliance)
- Under marginal scheme
- Capitalgain tax purposes for valuation report compulsory
- GST on Renting godown to KFCSC for Storage of Raagi
- GST Audit whether Govt Companies are exempt?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
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
