what is composition limit applicable now? is it 1cr or 1.5 cr
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Composition limit?
Replies (12)
1.5 Crore,
1cr.....
As per 23rd GST council Meeting, composition scheme limit increased to 1.5 crores applicable from 15th Nov 2017
yes , correct uday ji
Dear.,
If decision taken in council meeting is final or it's only decision or any other notifications or any others....??
please
If decision taken in council meeting is final or it's only decision or any other notifications or any others....??
please
1) GST council makes recommendations to Central & State Govt on
Tax rates, exemptions, threshold limits, dispute resolution,GST legislations
2) These recommendations will be issued in GST council meetings
3) Based on these recommendations, Govt will Issue Notifications
Tax rates, exemptions, threshold limits, dispute resolution,GST legislations
2) These recommendations will be issued in GST council meetings
3) Based on these recommendations, Govt will Issue Notifications
Annual turnover upto Rs 1.5 crore can opt for composition scheme for Small Tax payers.
Furnish only one return GSTR-4 on a quarterly basis and an annual return in FORM GSTR-9A.
Dear Mr Mukesh.,
Composition Scheme ceiling limit just Rs 1Cr only...
Also decision taken Rs 1.5cr also it will increase to 2cr but not in force...
yes because in practicality people are still using 1 cr limit
1) yes as Mr. Raja said now it is 1 cr only as no notification issued in this regard
2) In 23rd council it was said it is recommendatory but no notification issued
3) But for 22nd council meeting notification has been issued to increase the limit to 1 Cr
2) In 23rd council it was said it is recommendatory but no notification issued
3) But for 22nd council meeting notification has been issued to increase the limit to 1 Cr
A taxpayer whose turnover is below Rs 1 crore* can opt for Composition Scheme.
26th GST Council Meet was held on Saturday 10th March 2018 at New Delhi. No change in Composition scheme.
Yes i too agree with Raja sir, As there are so many recommendations & notifications it's hard to by heart, So we should only reply when we definitely confirm ourself.
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