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COMPOSITION SCHEME
#GST Council reworked the composition scheme for small businesses by allowing those with an annual turnover of Rs. 75 lakh, instead of Rs.50 lakh earlier
Replies (2)
PRAVEER IT IS NOT ACTUAL TURNOVER, pl see the section properly . it is aggregate turnover. Now see sec(6) of CGST, AGREEGATE TURNOVER INCLUDES INWARD SUPPLIES AND OUTWARD SUPPLIES. So be careful while calculating aggregate TO
Further, service provider is not entitle for composition. so if any person is registered under composition scheme and if he do jobwork of 1 rupee, his composition permission will be canceled
Further, service provider is not entitle for composition. so if any person is registered under composition scheme and if he do jobwork of 1 rupee, his composition permission will be canceled
MEANS - IT IS NOT ANNUAL TURNOVER* (PL CORRECT IT IN ABOVE REPLY)
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