The burden of complying with various Goods and Services Tax (GST) law provisions, GST return filing, etc. can take up significant time and financial resources of small individual businessmen and professionals. Hence, to lower the burden of legal compliance, a separate scheme under GST was introduced by the government. This scheme is called the ‘composition scheme under GST’. However, not every GST registered person can opt for this scheme.
- What benefits does the composition scheme under GST offer?
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Comparison of GST rates in composition scheme and regular GST
- Who can opt for the composition scheme under GST?
- How to opt for composition scheme under GST?
- What you lose in composition scheme under GST?
- Who cannot opt for composition scheme under GST?
Source: economictimes.indiatimes.com
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