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
Menu
tax liability
Replies (3)
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...
Recent Threads
- Can we login to GST portal from outside India and
- Capital gain tax on property sell
- TDS u/s 94T - applicablity on profit share.
- ITC for 5% Restaurant business
- Auto Sweep Facility In Fixed Deposit
- Live Updates and discussion on Union Budget 2026-2
- Taxation on Bonds
- How to learn about a deceased family member's inve
- Query about cash withdrawals and tax/ITR filing im
- TDS on partners remuneration u/s 194 T
Related Threads
CAclubindia
