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A person availing composition scheme during a financial year crosses the turnover of ₹ 50 Lakhs during the course of the year i.e. say he crosses the turnover of ₹ 50 Lakhs in December? Will he be allowed to pay tax under composition scheme for the remainder of the year i.e. till 31st March?

Question 15 - Act - Levy of and Exemption from Tax - Goods and Services Tax - Question 15 - Q 15. Ans. No. The option availed shall lapse from the day on which his aggregate turnover during the financ .....

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