Sec 10(2A)

Yes.

CA Suraj Lakhotia

Admin

11-Nov-20 15:43

Yes

YOGESH JAISWAL

CMA Inter

★ 5

11-Nov-20 17:48

If I'm eligible for concessional rate and my aggregate turnover is say 55 lakhs in this financial year. Can I still pay on concessional rate of 3+3% on 35lakhs? Or pay 3+3% on 30 lacs (assuming 20 lac registration limit), as option lapses at 50 lakhs and pay on remaining 5 lakhs at normal rates. Or is it 3+3% upto 70lakhs(assuming 20 lac registration limit), becoz of provision saying 3+3% on first supply upto an aggregate turnover of 50 lacs.

Thread Starter

boddireddy bhargavi

CA Inter

★ 740

12-Nov-20 15:09

Please clarify.

Thread Starter

boddireddy bhargavi

CA Inter

★ 740

12-Nov-20 15:10

Once turnover crosses 50 lakhs we cannot continue under concessional scheme. However, on first 20 lakhs of turnover before registration we do not pay tax

Shiva Teja

Faculty

12-Nov-20 16:38