Composition levy
balkrishna kamuni (Gst practitioner) (39 Points)
04 March 2019
what are the compliances under composition levy which need to be taken care..
4 Replies
neha agrawal
(0)
(58 Points)
Replied 04 March 2019
Total turnover should not exceed 1.5 cr. Following persn can not opt for composition levy:
1.who supply services except restaurants
2. who supply exempted goods
3. making inter state supply of goods
4. supply goods through electronic commerce operator
5.manufacturing notified goods
Priya Kashyap
(Student)
(7053 Points)
Replied 04 March 2019
Any tax payer, whose turnover is less then INR 1.5 Crore, in Rest of India, and less then INR 75 Lakhs in Special Category States (North Eastern States and Himachal Pradesh), can opt for the composition scheme under GST. The point to be noted is that the GST composition scheme limit is based on the turnover of all businesses which are registered with the same PAN, and thus all businesses under the same PAN can either be registered regular dealers or can be composition dealers – not a combination of both.
pritesh
(CA Final student)
(7101 Points)
Replied 04 March 2019
refer link below
https://cleartax.in/s/gst-composition-scheme
https://cleartax.in/s/gst-composition-scheme
balkrishna kamuni
(Gst practitioner)
(39 Points)
Replied 16 March 2019
thank you..
Todays querey,
case : Mr. A is registered in the month of Oct.2018 (FY 18-19)
under GST as regular taxable person (where applicable turnover threshold RS.20 lac)..
but now this limit is increased to Rs. 40 lac w.e.f 1st of April 2019..
in this can he cancel his gst registration as his turnover doesn't exceed Rs. 40 lac in a financial year..(FY 19-20)
is the condition of completion of 1 year form the date of registration is need to comply to cancel GSt registration
or
can he apply for cancellation of gst registration by giving one of the reason that he ceased to pay gst under gst act...
plz... help me to sort out this case... thank you
Recent Topics
- Workmen compensation insurance policy
- GST Revenue at All-Time High – A Genuine Gro
- TDS ON PURCHASE OF PROPERTY BY FIRM
- Gst missing invoice in return
- Discuss and Download CA Inter Question Paper May 2
- Discuss and Download CA Final Question Paper May 2
- ISSUES ON TDS AMOUNT ON PAYMENT OF LAST INSTALLMEN
- Looking for Help with Business Registration
- Two Buyers and One Seller - 1% TDS to be deducted
- How to Proceed with withdrawl of appeal filed with
Related Threads
Trending Online Classes
-
GST LIVE Certification Course - 42nd Weekend Batch(With Govt Certificate)
Industry Expert17 May 2025
CAclubindia
