Exceeding Composition Threshold Automatically Lapses Option, but Post-Lapse Tax Must Be Calculated Cum-Tax
Exceeding Composition Threshold Automatically Lapses Option, but Post-Lapse Tax Must Be Calculated Cum-Tax Issue Whether exceeding the aggregate turnover threshold of ₹1.50 crore automatically terminates the composition scheme option under Section 10(3) from the exact date of the breach. Whether post-lapse supplies made by a composition taxpayer who issued non-GST invoices are entitled to cum-tax… Read More »