Gaurav asked 7 years ago
Composition scheme
Mam i have medicine shop.most of the medicines are taxable but some medicines are tax free.can i opt composition scheme.in last financial year my turnover was below 20 but this year this year it may cross in next one or two months should i opt in september or after crosing limit .is there any last date for new person to opt for composition.
Answer the question1 Answers
CA S Gupta answered 7 years ago
After crossing the limit u are recomeded to register. because as soon as u register u are liable for paying taxes
For new registration there is no time limit for composition scheme
