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  2. cleartax.in › s › gst-composition-schemeGST Composition Scheme: Rules, Turnover Limit, Rate, Benefits

    Know about the GST composition scheme rate, rules, limit, benefits and how to check your eligibility. Read GST Composition Scheme in detail with its merits, demerits & transition provisions.

  3. cleartax.in › s › composition-scheme-under-gstComposition Scheme Under GST Explained - ClearTax

    May 28, 2024 · The rate of tax on transactions under reverse charge, purchase from an unregistered dealer and import of services will be at normal rates, i.e. the rates applicable to the supplies. Rates under the composition scheme are applicable only to sales of a composition dealer.

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  5. taxguru.in › goods-and-service-tax › gst-builderGST on Builder / developers- recent changes applicable wef 01 ...

    Apr 2, 2019 · Author compiles recent changes in GST applicable wef 01.04.2019 related to builders and developers- It explains changes Where GST OF 1%/5% Is Opted For Ongoing Project, Where Existing 8% Is Continued With ITC, Impact on New Projects and amendment in rules regarding Input Tax Credit in summaried form.

  6. taxguru.in › goods-and-service-tax › compositionComposition Scheme-GST Rate & Threshold Limit under GST Law

    Aug 29, 2020 · A ‘Composition Scheme’ is an alternative method of levying tax designed for small taxpayers. If your business is small, but not quite small enough to be GST-exempt, you may be able to use your company’s aggregate turnover to qualify for the composition levy scheme.

  7. cbic-gst.gov.in › pdf › faq-manualFrequently Asked Questions on Composition Levy

    The composition levy is an alternative method of levy of tax designed for small taxpayers whose turnover is up to Rs. 75 lakhs ( Rs. 50 lakhs in case of few States). The objective of composition scheme is to bring simplicity and to reduce the compliance cost for the small taxpayers.

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  8. www.indiafilings.com › learn › gst-compositionGST Composition Scheme: A Comprehensive Guide - IndiaFilings

    Jun 15, 2024 · The composition scheme’s GST rates are categorized as follows: 1% of the turnover for traders and other eligible suppliers registered under the composition scheme. 2% of the turnover for manufacturers, except those dealing in products ineligible for the GST composition scheme.

  9. taxguru.in › goods-and-service-tax › compositionComposition Scheme Under GST – Eligibility, Tax Rate, Conditions

    Oct 11, 2021 · Composition Scheme is uncomplicated and simple scheme under GST for small taxpayer. They can get relaxation from monotonous GST formalities and can also pay tax at a fixed rate of Turnover.