Composition scheme threshold clarified: eligibility requires aggregate turnover below the prescribed limit to opt for composition tax. The threshold for opting to pay tax under the composition scheme is the aggregate turnover in the financial year; a person whose aggregate turnover in the ... Summary
Composition scheme threshold clarified: eligibility requires aggregate turnover below the prescribed limit to opt for composition tax.
The threshold for opting to pay tax under the composition scheme is the aggregate turnover in the financial year; a person whose aggregate turnover in the financial year does not exceed the notified threshold may elect to avail the composition scheme and pay tax under that scheme rather than under the regular provisions.
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