Mr. Khan, engaged in trading of ice-cream (not containing cocoa) in Jammu & Kashmir within the same State itself. Turnover of his firm in preceding financial year is Rs. 80,00,000. State the compositi

Piyu · 28 Aug 2024

Well, 1.5cr option is not given only. Then what?

Ashvath · 28 Aug 2024

As he is the trader of the ice cream (notified goods) and not the manufacturer of the ice cream (notified goods) , He can opt for composition scheme under section 10(1) And his threshold limit for composition scheme is 150 crores as he is engaged in the trade of ice cream in the state of Jammu and Kashmir only

Sujal · 28 Aug 2024

In case if J&K, The turnover limit is 1.5 crore, he can opt for composition scheme as he is not manufacturer of ice-cream, But he is trader of ice-cream !!!