Composition
Scheme
Ø Small Taxpayers with an aggregate Turnover up to Rs 50 Lakhs shall be eligible for composition scheme.
Ø Under the Scheme taxpayer shall not get the
benefit of input tax credit.
Ø The floor rate shall not be less than 1%
Ø Taxpayer opting for composition scheme shall not
collect tax from customers.
Ø Tax payers making interstate supplies or paying
tax on reverse charge shall not be eligible for composition scheme.
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