Mr. Jethalal was registered taxpayer (in Delhi) under composition scheme during 2018-2019. His aggregate turnover in financial year 2018-2019 was ₹ 40,00,000. In view of Second Proviso inserted to section 10(1) w.e.f. 1 -4-2019, the taxpayer is willing to supply services in Financial Year 2019-2020. What is the maximum value of services (other than restaurant) which may be provided in such a manner so that he may continue to remain in composition scheme?
A. ₹ 4,00,000
B. ₹ 5,00,000
C. ₹ 6,00,000
D. None of the above
Answer:B
Mr. Jethalal was registered taxpayer (in Delhi) under composition scheme during 2018-2019. His aggregate turnover in financial year 2018-2019 was ₹ 40,00,000. In view of Second Proviso inserted to section 10(1) w.e.f. 1 -4-2019, the taxpayer is willing to supply services in Financial Year 2019-2020. What is the maximum value of services (other than restaurant) which may be provided in such a manner so that he may continue to remain in composition scheme?
A. ₹ 4,00,000 B. ₹ 5,00,000 C. ₹ 6,00,000 D. None of the above