Composition scheme in GST | What is composition scheme in gst | Regular vs Composition scheme
Composition scheme in GST | What is composition scheme in gst | Regular vs Composition scheme
About video
You will learn the basics of composition scheme in GST. How is it differ from Regular scheme.
Composition scheme was mainly introduced for small taxpayers having annual aggregate turnover of less than 1 crore.
In composition scheme you will not be able to claim Input tax credit. In addition extra 1% shall be paid on total turnover. Inter estate supplier cannot opt for composition scheme. once turnover crosses 1crore then taxable person has to shift from composition to regular scheme.
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This video is merely a guide meant for learning purpose only. All the instructions, references, content or documents are for educational purpose only and do not constitute a legal advice. We do not accept any liabilities whatsoever for any losses caused directly or indirectly by the use/reliance of any information contained in this video or for any conclusion of the information. Prior to acting upon this video, you're suggested to seek the advice of your financial, legal, tax or professional advisor as to the risks involved may be obtained and necessary due diligence, etc..may be done at end.
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