Q. What will happen if the turnover of a registered person opting to pay taxes under compositionscheme during the year 2019-20 crosses threshold limit? (Solved)
1. He can continue under composition scheme till the end of the financial year
2. He will be liable to pay tax at normal rates of GST on the entire turnover for the financial year 2019-20
3. He will cease to remain under the composition scheme with immediate effect
4. He will cease to remain under the composition scheme from the quarter following the quarter in which the aggregate turnover exceeds threshold limit
- c. He will cease to remain under the composition scheme with immediate effect