fbpx

Threshold for opting to pay tax under the composition scheme

  • The threshold for composition scheme is Rs. 1 Crore of aggregate turnover in the preceding financial year.
  • TRICK= threshold + aggregate turnover + preceding + financial year.
  • The benefit of composition scheme can be availed up to the turnover of Rs. 1 Crore in current financial year.
  • TRICK= turnover + current + financial year
  • 75 lakhs for 9 special category states viz 1. Arunachal Pradesh, 2. Assam, 3. Manipur, 4. Meghalaya, 5. Mizoram, 6. Nagaland, 7. Sikkim, 8. Tripura, and 9. Himachal Pradesh

Image result for composition scheme

568 total views, 2 views today

Please follow and like us:

Leave a Reply

Your email address will not be published. Required fields are marked *

error: Content is protected !!