Assess recent new registration composite scheme 1%tax rate voluntary registered in gst act.
Assess any maximum and minimum limit for turnover and tax payble each quarter compulsory shown in composite return any prescribed in gst act.
Sundaraiahk@gmail.com Posted new comment May 12, 2020
Maximum turnover limit for opting of composition scheme is Rs 1.50 crore. However for the composition scheme for service suppliers the max limit of turnover is Rs 50 lakhs. Minimum limit can be said to be the threshold exemption limit which is Rs 20 lakh / Rs 10 lakh and Rs 40 lakh for supplier exclusively dealing in goods..
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Frah Saeed Answered question May 12, 2020
Composite dealer voluntary registered monthly turnover below 1 lac file nil return or compulsory pay 1 %rate paid on turnover