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Composition scheme turnover
what is the effective date for the increased turnover limit of composition scheme from 1 Crore to 1.5
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The annual turnover limit increased by GST council to 1.50 Crores, effectively from 1 April 2019
From F.Y. 19-20
Currently its 1 crore & 1.5 crore is recommendation only hence wait for notifications to to be issue
Notification yet to be issued regarding the same..
The CGST AMENDMENT Act 2018 will be effective from 01.02.2019, where the statutory turnover limit will be increased.
The CGST AMENDMENT Act 2018 will be effective from 01.02.2019, where the statutory turnover limit will be increased.
Till date the turnover limit of composition scheme is 1crore.
All the changes made in 32nd gst council meeting will be effective from 01.04.2019
1.5 turnover are applicable for outdoor catering services
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