now what is the limit of turnover for applying for comparison scheme,
when it is increased from 1cr to 1.5 cr ??
3 Replies
Pankaj Rawat
(GST Practitioner)
(55057 Points)
Replied 29 August 2018
Till date its 1crore , & the maximum prescribe in act is 1crore , so it needs to be change in Act. no notification can issue in this regard without increasing limit in Act first.
Shivam RC
(Student)
(23683 Points)
Replied 29 August 2018
Agree with Pankaj Sir....
The statutory limit is ₹ 1 crore to opt for Composition Scheme u/s 10 of CGST Act 2017. To increase this limit, the Goverment have to amend the Act [ which is in process - CGST (AMENDMENT) BILL 2018 ].
The statutory limit is ₹ 1 crore to opt for Composition Scheme u/s 10 of CGST Act 2017. To increase this limit, the Goverment have to amend the Act [ which is in process - CGST (AMENDMENT) BILL 2018 ].
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