Question ID :
Presently a taxpayer is registered is under Regular scheme . He is selling goods as well as providing services. He wants to go for composition scheme .
My understanding is that for the Goods , maximum Turnover limit is Rs 1.5 crores and pay GST @1% . For services Maximum Limit is Rs 50 Laths and pay tax @6% .
so in total Rs 2 crores he will get his limit ( For Goods Rs 1.5 cr and for services Rs 50 Lakhs)
Kindly confirm the above understanding .
samirkumar gokulbhai kasvala
Aug 14, 2020