What is the scope of composition scheme under GST?
Question 23
Bill
Overview of Goods and Services Tax (GST)
FAQ on GST dated 21.9.2016 based on Draft Model GST
Q 23. What is the scope of composition scheme under GST?
Ans. Small taxpayers with an aggregate turnover in a financial year up to [Rs. 50 lakhs] shall be eligible for composition levy. Under the scheme, a taxpayer shall pay tax as a percentage of his turnover during the year without the benefit of ITC. The floor rate
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