Latest: Turnover limit for Composition Levy increased from 50 Lakh to 75 Lakh

Latest: Turnover limit for Composition Levy increased from 50 Lakh to 75 Lakh

Information 01.12.2017   0 Comments   547  Add to Reading List

In the sixteenth meeting of the GST chamber headed by Finance Minister Arun Jaitley, as far as possible for organization collect has been expanded from 50 Lakh to 75 Lakh. 

The arrangement conspire is an advantage stretched out to the private company by the legislature whose turnover is under 75 lakh (prior Rs.50 lakh). 

Further, so as to profit the advantage of creation conspire, you should satisfy the accompanying conditions: 

1. Creation advantage isn't accessible to specialist co-ops. 

2. No interstate deals are permitted 

3. You should not be a web based business vender on Amazon or flipkart. 

4. You have to document insinuation to government before profiting the advantage under the plan. 

5. You ought not manage unregistered individual.


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