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113 Points Posted on 25 July 2020
The turnover of AWGPP6280P for the financial year 2019-20 has crossed the prescribed composition threshold limit.
19_20 total turnovers 70 lakhas
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On 25 July 2020 at 14:48 Report
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Quick Summary
This discussion clarifies the Goods and Services Tax (GST) composition scheme rules, particularly regarding turnover limits. If your business's turnover exceeds the prescribed threshold (e.g., ₹50 lakh for service providers, ₹1.5 crore for traders in Gujarat), you may need to switch from the composition scheme to the regular scheme. Failing to do so can result in penalties and interest charges. The conversation also touches upon filing requirements and the process of converting to the regular scheme.

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Tax and Business Consultant
11616 Points Posted on 25 July 2020
Are you registered under GST?

if registered, than in normal scheme or composition scheme?
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On 25 July 2020 at 16:12
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113 Points Posted on 25 July 2020
Gst me composition me he to kya ab regular karna hoga
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On 25 July 2020 at 17:40
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Practice
3235 Points Posted on 25 July 2020
Yes according to the message you need to shift from composition to regular scheme but first check the turnover limit in your state
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On 25 July 2020 at 17:42
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113 Points Posted on 25 July 2020
19_20 me 50lakha turnover ho gaya tha fir bhi april to june ka cmp_08 nill file kya he to ab koi penlty hogi kya?
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On 25 July 2020 at 17:45
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Tax and Business Consultant
11616 Points Posted on 25 July 2020
Sir, what is your exact turnover, 50 lakh or 70 lakh ?

You are registered in which state?
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On 25 July 2020 at 17:49
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113 Points Posted on 25 July 2020
70 lakh in gujrat
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On 25 July 2020 at 17:51
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Tax and Business Consultant
11616 Points Posted on 25 July 2020

Turnover limit for composition scheme is 1.5 Cr. in Gujarat. So, if your turnover is below 1.5 cr. than you are not required to shift to regular scheme.

Are you trader of Goods or providing any services??

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On 25 July 2020 at 18:03
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113 Points Posted on 25 July 2020
Services provide in gst 6%.
Call me sagarji 8980109635
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On 25 July 2020 at 18:06
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Tax and Business Consultant
11616 Points Posted on 25 July 2020
If you are providing services than turnover limit for composition scheme is 50 lakh

If your turnover is more than 50 lakh than you required to shift to a regular scheme
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On 25 July 2020 at 18:09
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113 Points Posted on 25 July 2020
19_20 me 50lakha turnover ho gaya tha fir bhi april to june ka cmp_08 nill file kya he to ab koi penlty hogi kya?
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On 25 July 2020 at 18:11
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Tax and Business Consultant
11616 Points Posted on 25 July 2020
If a taxable person has paid tax under the composition scheme though he was not
eligible for the scheme then the person would be liable to penalty.
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On 25 July 2020 at 18:29
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113 Points Posted on 27 July 2020
Sir Mera Feb 2020 ki 23_02_2020 ko 50 lakhas turnover ho gaya tha fir bhi mene january to march 2020 ka Cmp_08 file kar diya he to ab muje kis date se regular scheme me jana padega or 3B and Gstr1 file karna hoga क्या? Sir plz reply
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On 27 July 2020 at 10:46
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Tax and Business Consultant
11616 Points Posted on 27 July 2020
You are required to convert to normal registration from 24.02.2020 and have to pay tax along with interest and penalty, if any as per normal scheme and also required to file return under normal scheme.
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On 27 July 2020 at 10:56
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113 Points Posted on 27 July 2020
Thank you sagarji
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On 27 July 2020 at 11:30

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