Composition scheme

Indirect Taxation

Illustration:- turnover of the mobile phone showroom was â?¹ 74L and receipts of the health and fitness service was â?¹18L in the preceding financial year. whether the firm can opt for the composition scheme? Please explain why?

Girinath A

CA Inter

★ 765

15-Mar-22 12:38

538

Answers (3)

Yes can opt becoz turnover less than 1.5 cr or for special catogery states less than 75 lakh

Pandusml V

CA Final

★ 4K+

15-Mar-22 15:59

Yes, because a person can opt for composition scheme if the aggregate turnover did not exceed â?¹ 1.5 crore in the PFY.

vishwam mandepudi

Qualified CA

★ 2K+

16-Mar-22 18:06

Yes

Susila Susila

CA Inter

★ 10

18-Mar-22 12:48