Category: Composition Scheme

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Updated on March 13th, 2019 in Composition Scheme

GSTR 4 – Composition Scheme: Rules, Return Filing Procedures & Dates

If you opted in / out from GST Composition Scheme, you may facing several problems. Most of the problems are common to all taxpayers who opted in / out from composition scheme. Let’s check out those expected common problems with probable solutions. Q: Obtained new registration and opted to pay tax under Composition Scheme. How…

Updated on June 5th, 2019 in Composition Scheme

Advantages and Disadvantages of Composition Scheme Under GST

The debate which started months ago about, whether the composition scheme will bring smile or tears is still on and relevant today. Of course, there are many elements which make it shine and the GST Council is brainstorming and fine-tuning it in almost every council meeting. However, the list of the minuses can also not…

Updated on April 2nd, 2019 in Composition Scheme

Composition Scheme Rediscussed by GOM

It’s been just over a week since the last GST Council meeting [October 7th], chaired by the finance minister, Sh. Arun Jaitley, formed a special group of ministers [GoM] especially for overseeing, fine-tuning and making the composition scheme more befitting and benefiting for the SMB, start-ups and  the business community at large. The high level…

Updated on February 18th, 2019 in Composition Scheme

Facts To Know About Composition Levy Under GST

There would be a substantial amount of cost and expertise needed in complying with GST. While the big guys will easily adapt to it, it’s the smaller ones which will feel the heat for lacking either of the above. Composition scheme, under GST, is just an extension of the current scheme under VAT and is…

Facts about composition levy under gst
Updated on August 2nd, 2019 in Composition Scheme

GST Composition Scheme – Boon or Bane?

As the pan-India wave of GST is about to hit us this July, the entire nation is gearing up to embrace the colossal tide. Even as the corporate Tycoons and Moguls are restructuring and redefining their business processes in tune with the GST mould, the micro, small and medium organizations are putting on their best efforts to swim in the sea of rules and regulations of this new legislation. The buzz-worthy question – is there any relief to the small sectors of our economy from the morass of complicated compliances of GST.

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