For financial year 2026-27, what is the aggregate turnover limit in the preceding financial year for a supplier of goods to opt for the composition levy under Section 10(1) of the CGST Act, 2017, in…
Question and options
For financial year 2026-27, what is the aggregate turnover limit in the preceding financial year for a supplier of goods to opt for the composition levy under Section 10(1) of the CGST Act, 2017, in a State not covered by the lower limit for special category States?
₹1.5 crore
₹40 lakh
₹50 lakh
₹75 lakh
Answer and explanation
Notification No. 14/2019–Central Tax, issued under section 10(1) of the CGST Act, 2017, sets the composition limit at ₹1.5 crore of aggregate turnover in the preceding financial year. The ₹75 lakh figure is the lower limit for the listed special category States, ₹50 lakh is the limit of the separate scheme in section 10(2A), and ₹40 lakh is a registration threshold for suppliers of goods.
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