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Annual turnover Rs. 75 lakh / 50 lakh for Composition Scheme?
I read here under Article that Rs. 75 lakh turnover is maximum limit to get Composition Scheme but it is also mentioned Rs. 50 lakh at CBEC website. which is correct for West Bengal?
Replies (3)
same has been amended from 50 lakh to 75 lakh for composition scheme in last metting held 18 june and same circular can be found on cbec website
gst council has suggested that rs 75 lakh to be the limit for composition but it is yet to be decided that whether the new limit should also be apply for special category states.....thats why final notification is yet to come....as wb is not a special category state, it will certainly have 75 lakh limit....
https://www.cbec.gov.in/htdocs-cbec/gst/revised_threshold_for_composition_scheme_11.06.2017.pdf
https://www.cbec.gov.in/htdocs-cbec/gst/revised_threshold_for_composition_scheme_11.06.2017.pdf
Thank you so much
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