composition scheme limit...

Upto aggregate Turnover of ....  1 Cr for all the states/UT....... but  75 lakhs for North-east states.....

Most Welcome, Dear....

There is no auto-conversion......... better opt for normal scheme at your earliest.......

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY PART II, SECTION 3, SUB-SECTION (i)]

GOVERNMENT OF INDIA

MINISTRY OF FINANCE

(Department of Revenue)

Notification No. 46/2017- Central Tax

New Delhi, the13th October, 2017

G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 10 of the Central Goods and Services Tax Act, 2017 (12 of 2017) the Central Government, on the recommendations of the Council, hereby makes the following amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No.8/2017- Central Tax, dated the 27 th June, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 647 (E), dated the 27 th June, 2017, namely:-

In the said notification,-

(i) for the words “seventy-five lakh rupees”, the words, “one crore rupees” shall be substituted;

(ii) for the words “fifty lakh rupees”, the words, “seventy-five lakh rupees” shall be substituted;

[F. No. 354/117/2017- TRU (Pt. III)]

The GST Council in its 23rd meeting held on 10th November, 2017; at Guwahati has decided to increase the threshold for composition scheme once again to Rs 1.5 crore and also decided to amend the law to increase the statutory threshold to Rs.2 crore. 

“This will only happen after the amendment of law and it is only a proposal,” said Finance Secretary, Hasmukh Adhia. 
 

For north east states......... GST turnover limit for composition has been increased to 75 lakhs (from earlier 50 lakhs).......... and for remaining states it is just 1 Cr. and proposal to increase it to 1.50Cr is in pipeline !!