Threshold limit
This query is : Resolved
Satish Thorat
(Querist)
28 March 2018
Suppose I have registered for GST. My turnover in previous FY does not exceed 20
Lack rs. Now I am taken Registration as composition tax payer, while filling quarterly return do I have to pay tax @1% on turnover of supply upto 15 lakh rs.
Lack rs. Now I am taken Registration as composition tax payer, while filling quarterly return do I have to pay tax @1% on turnover of supply upto 15 lakh rs.
CA Rashmi Gandhi
(Expert)
28 March 2018
Yes you have to....
Exemption limit is for registration only, once you get registered you have to pay tax for single penny also.
02 April 2018
From Jan to march quarter rate of tax is likely to be half percent as per the GST circular.
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