Chartered Accountants, practicing CA’s, students and related industry professionals may connect with users of similar interests. To raise and discuss issues related to finance and taxation. The objective of this group is to address concerns and bring out feasible solutions for making a strong communication network for all related audience.

COMPOSITION SCHEME

1 reply, 2 voices Last updated by  Yuvika Deshmukh 1 month, 3 weeks ago
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    Posts
  • #4059

    karan mishra
    Participant
    @karanmishra0091

    There are two units of the same person
    1. Megha ltd. Registered in Meghalaya; T/o 50 lakhs
    2. Mumba ltd. Registered in Mumbai; T/o 40 lakhs
    Having same PAN
    Can they avail benefit of Composition Scheme?

    #4117

    Yuvika Deshmukh
    Participant
    @yuvika@123

    No, since one of the unit is established in special category of state the compsoition limit is 75 lacs INR not 1 Cr INR, since aggregate turnover of all the units is more than 75 lacs INR. The person will not be allowed to opt for composition scheme.

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