Composition Dealer

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3 Points Posted on 22 April 2020
If the turnover of kirana store who opt composition scheme is cross the basic threshold limit due to increase in sales during lockdown is there any relief for that traders ?
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On 22 April 2020 at 13:24 Report
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This discussion addresses kirana stores operating under the composition scheme who have unexpectedly exceeded their turnover threshold due to increased demand for essential items during lockdown. Participants clarify that there is no specific relief available for such situations. Traders exceeding the limit must opt out of the composition scheme and transition to the normal taxpayer category.

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CA-Final Students
192 Points Posted on 22 April 2020
I think no such relief.
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On 22 April 2020 at 14:26
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"Do the Right Thing...!!!"
128157 Points Posted on 22 April 2020
@ Mr Raj Singh.,

Can You elaborate Your query with details...?
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On 22 April 2020 at 16:25
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3 Points Posted on 22 April 2020
Sir local kirana store who deals in essential items eg.food grain etc. who opt for composition scheme base on turnover. know because of pandemic situation due to covid 19 and lockdown the demand for essential items where increase. The turnover was increase unexpected in that situation if the turnover cross the basic limit specified in act for composition scheme is there any relief for same.
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On 22 April 2020 at 17:09
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"Do the Right Thing...!!!"
128157 Points Posted on 22 April 2020
If turn over exceeding as per threshold limit (exceeding composition limit) then must be opt out from the scheme...
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On 22 April 2020 at 17:43
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602 Points Posted on 22 April 2020
No, there is no one relief about that.
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On 22 April 2020 at 17:58
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Chartered Accountant
12739 Points Posted on 22 April 2020

no relief 

shift to Normal Taxpayer 

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On 22 April 2020 at 19:20
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Profession
28269 Points Posted on 23 April 2020
No relief..


raj
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On 23 April 2020 at 08:20

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