composition levy?

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composition levy turnover limits? ?
Replies (7)
As per section 10 of CGST act
Applicable to
1.whoes turnover not exceed 1.5cr during previous financial year.
2.person evolved in the activity of producers of pan masala bidi,ice-cream, restaurant providing liquor services can't opt for this scheme.

From 1/2/2019  turnover  limit  is 1.5 crore . please  confirm with others also. 

from 1/4/19
ca inter exam applicability ???

I think it was  applicable  from 1/2/2019 as per CGST amendment act  2017 sr no 5  (a) sub section (ii)  - Read amendment in section 10 . 

The CGST ( Amendment ) Act 2018 was notified on 01.02.2019. Section 10 was amended and the statutory threshold limit was increased from Rs. 1 crore to Rs. 1.5 crore.

However, The Central Government vide Notification No. 14/2019 – Central Tax dated 07th March, 2019 notified that an eligible registered person, whose aggregate turnover in the preceding financial year did not exceed Rs. 1.5 Crores, may opt to pay tax under Composition scheme. 

The above said Notification will be applicable w.e.f 01.04.2019.

And as far as CA-INTER May 2019 Exam is concerned, the limit for the exam will be Rs.1 crore since amendments and notifications upto 31.10.2018 will be applicable for May 2019 Exam.

Warm Regards.
1.5 cr is the limit


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