till 20 lakh turnover tax benefit could we get under composition scheme.
ex. my turnover is 15 lakh and i am under composition scheme then we deposit tax or not
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tax liability
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You should deposit tax if you are registered under composition scheme even if your turnover is below 20 lakhs.
Dear you are covered under compostion scheme and under this scheme tax rate is decided for diff business say 1-3% ..accordingly that you have to pay taxes to govt
composition scheme is only for person who have turnover above upto 75 lacs if you had turnover in a year not more than 20 lacs you need not require to register under GST...
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