Who are not eligible for composition scheme under the VAT regime ?
CS Professional · Advanced Tax Laws and Practice · PYQS · December 2015
Who are not eligible for composition scheme under the VAT regime ?
Answer & Explanation:
The following persons are not eligible for the composition scheme under the VAT regime: Having turnover of previous year above the specified limit, say ₹50 lakhs. Making sales or purchases Making import or export sales. Making interstate stock transfer. Making interstate transfer of goods for execution of works contract.
Topics: VAT
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