What is Composition Scheme
Composition Scheme is a scheme for Small Tax Payers with Turnover upto 1.5 Crore
These small shopkeepers do not show GST on their Invoice
Their Invoice is always tax inclusive
They pay tax normally at 1% of GST, however they do not get any Input
Sample Invoice of Composition Scheme
Important Points
1.
This scheme can be opted only if turnover upto 1.5 Crores
This scheme is optional in nature
Separate Rule in Special Category States
Special Category States means North eastern states and Uttarakhand
Here Limit for Composition Scheme is 75 lacs
2. This scheme can be opted only if making local Sales
If making interstate sales, we can only opt for Interstate sales
