For composition Taxpayer service providing upto 5 lakh is exempt any notification
Composition tax payer service exempt upto 5 lakh
amol bramhankar (artical tranee) (261 Points)
16 January 2019
amol bramhankar (artical tranee) (261 Points)
16 January 2019For composition Taxpayer service providing upto 5 lakh is exempt any notification
Ruchika Somani
(Coaching and Practice in Tax Audit Law.)
(4429 Points)
Replied 16 January 2019
Its 50lacs.
Ruchika Somani
(Coaching and Practice in Tax Audit Law.)
(4429 Points)
Replied 16 January 2019
Recently announced on 31.12.2018
amol bramhankar
(artical tranee)
(261 Points)
Replied 16 January 2019
ok but in 23rd meeting also emempted upto 5 lakh for opting composition scheme
amol bramhankar
(artical tranee)
(261 Points)
Replied 16 January 2019
i required notification if any
Pankaj Rawat
(GST Practitioner)
(55042 Points)
Replied 16 January 2019
amol bramhankar
(artical tranee)
(261 Points)
Replied 17 January 2019
Santosh Nikumbh
(Commercial Manager)
(28 Points)
Replied 17 January 2019
Major decisions taken by the GST council in its 32nd meeting, find below details referring to your query.
3. Composition Scheme for Services: A Composition Scheme shall be made available for Suppliers of
Services (or Mixed Suppliers) with a Tax Rate of 6% (3% CGST +3% SGST) having an Annual Turnover in
the preceding Financial Year up to Rs 50 lakhs.
3.1 The said Scheme Shall be applicable to both Service Providers as well as Suppliers of Goods and
Services, who are not eligible for the presently available Composition Scheme for Goods.
3.2 They would be liable to file one Annual Return with Quarterly Payment of Taxes (along with a Simple
Declaration).
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