Explain Composition scheme under GST

Composition scheme under GST

To lower the burden of compliance for small business so that they don’t have to maintain copious records, registers, and returns, many state governments have provisions for payment of a composition levy in their VAT system. However, such provision does not exist in the service tax laws. Composition scheme under GST explanation Composition scheme under GST Section 8 of the Model GST Law contains provisions for composition scheme which gives permission to the taxpayer to opt for payment of GST as a fixed percentage of turnover instead of paying regular…

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