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Clarification on levy and collection of GST

Indirect Taxation

In the illustration 1 of the levy and composition scheme it is mentioned as can sai and trading company opt for composition scheme as on 31-10-17 whose aggregate turn over is 78 lakhs in the preceding financial year The answer mentioned is as per provisions of sec 10 he can opt for composition scheme But he cannot opt for composition scheme in the middle of the year right? Since they have not mentioned he is a regular dealer or not in the previous year.. how should we assume?

sai krishna teja

CA Inter

★ 940

06-May-20 21:09

357

Answers (1)

Itâ??s only an assumption. And we are just answering about possibility to opt. Ofcourse a person cannot opt for composition scheme in the middle of the Financial Year