Composition Scheme is a simple and easy scheme under GST for taxpayers. Small taxpayers can get rid of tedious GST formalities and pay GST at a fixed rate of turnover. This scheme can be opted by any taxpayer whose turnover is less than Rs. 1.0 crore*.
*CBIC has notified the increase to the threshold limit from Rs 1.0 Crore to Rs. 1.5 Crores.
posted by GST UPDATES @ May 06, 2020
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