Who are the person not eligible for composition scheme but eligible for notification no 2/2019 dated 7.3.2019?
Replies (6)
Quick Summary
This discussion clarifies eligibility for Notification No. 2/2019 for taxpayers not qualifying for the composition scheme. Generally, service providers with an aggregate turnover below ₹50 lakh in the preceding financial year, excluding interest income, are eligible. This notification offers a concessional tax rate. The discussion also addresses how to calculate turnover thresholds when businesses are registered under the same PAN across different states.
Please enlighten me-For example I'm newly registered under composition scheme.The office located is in delhi another office is in Meghalaya. Which will the threshold limit be applicable in this case ? 75 laks or 1.5 crore?
Guest
Turnover of all businesses registered with the same PAN should be taken into consideration to calculate turnover.