This Scheme is for Small Business who cannot maintain detailed books of accounts and records.
Why GST Composition Scheme is introduced
Normally, an assesse under GST has to maintain proper records of Output and Input and pay 3 Monthly Returns every month+ One Annual Return
This is not possible for small business.
For such business, Government has introduced composition scheme under GST.
As per this Scheme, No Input is available to Composition Dealer. However, he has to pay Output at less Rate
Also Instead of monthly 3 returns, he can file Quarterly One Return plus one Annual Return
Hence, this scheme is for easy compliance of GST Law of small business
If turnover upto 100 lacs, then Composition Scheme can be availed
Option to Avail Composition Scheme
Person can opt for Composition Scheme till 31 March 2018
Suppose scheme opted in one month will be effective from Next Month
Normal Dealer opts for Composition Scheme by 20 Nov 2017
He will file Composition Dealer Return and Tax starting from 1 Dec 2017
For Composition Dealer
GST Return for July - Sep Quarter to be filed by 24 Dec 2017