Liability on composition in case turnover exceeds 75 lakhs, the dealer is not eligible for compounding tax. As to whether the leader is liable from first one Rupee or is liable to pay tax on exceeding 75 lakhs turnover. This is not clear. If he is assessed from Rupee one, he will be put into hardship. It will be fair if he is assessed on exceeding turnover of 75lakh. What is the legality. How it decides?
CAclubindia
