What is the definition of Turnover in Composition Scheme?

14 June 2017

GST rate of .5% in composition scheme for trader is on taxable goods or on both taxable as well as non taxable?

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6 Replies

CA Preeti Goel (Practicing CA) (58 Points)
Replied 14 June 2017

On Taxable goods only gst would apply

Manoj Kumar Gupta (11 Points)
Replied 14 June 2017

what is included in calculation of TURNOVER for GST composition

Sankar Dinesh (53 Points)
Replied 14 June 2017

annual turnover should be below 50lakhs

CA Preeti Goel (Practicing CA) (58 Points)
Replied 14 June 2017

Sankar 50 lakh limit has been revised to 75 lkh as on 11.06.17

CA Preeti Goel (Practicing CA) (58 Points)
Replied 14 June 2017

All supplies included . Exclude non taxable supplies only

Rahul k lalwani (nil) (46 Points)
Replied 14 June 2017

from 50 to 75 is recommended its not notified yet

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