An individual availing of the benefit of the composition scheme under the goods and services tax (GST) regime crosses the turnover of Rs 1.5 crore during the year (say in October 2017). Will the person be allowed to pay GST under that scheme for the rest of the financial year?
According to GST law, the option of discharging the GST liability under the composition scheme by a registered person lapses the day his aggregate turnover during a financial year exceeds the prescribed limit.
Therefore, you are not eligible to discharge GST under the composition scheme for the rest of the