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

    Nov 4, 2024 · 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.

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

    May 28, 2024 · The article provides updates on the Goods and Services Tax Law composition scheme, eligibility criteria, benefits, and disadvantages. It also explains how to calculate aggregate turnover, applicable tax rates, effective date, record-keeping, and other relevant details about the composition scheme.

  3. razorpay.com › learn › gst-composition-scheme-benefitsGST Composition Scheme: Turnover Limit, Eligibility & Rates

    Sep 30, 2024 · The composition scheme is a simplified GST tax-paying mechanism for small businesses whose aggregate turnover does not exceed ₹1.5 crore for suppliers of goods or ₹50 lakh for suppliers of services in the preceding financial year. It lowers your compliance burden by enabling a reduced tax rate of 1% to 6% based on your business type.

  4. 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.

  5. themunim.com › gstr-4-composition-annual-returnGSTR-4 Composition Annual Return: Turnover Limit & Due Date

    3 days ago · GSTR-4 Annual Return Due Date. From FY 2024-25 onwards, the due date for the GSTR 4 annual return was extended from 30 April to 30 June of the following year. This decision to extend the due date for filing GSTR-4 was taken in the 53rd GST Council Meeting and later announced via CGST Notification 12/204 dated 10 July 2024.

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

    Ans. Composition scheme is a scheme for payment of GST available to small taxpayers whose aggregate turnover in the preceding financial year did not cross Rs. 75 lakhs. In the case of the following States, the limit of turnover is Rs. 50 lakhs:- . a) Arunachal Pradesh. b) Assam. c) Manipur. d) Meghalaya. e) Mizoram. f) Nagaland. g) Sikkim.

  7. taxguru.in › goods-and-service-tax › gst-compositionComposition Levy under GST- Detailed Analysis - Tax Guru

    May 10, 2020 · The composition scheme under GST is currently applicable to businesses with aggregate turnover of Rs. 1.5 crores or less (lower limit is applicable in case of special category states). Composition Scheme is a simple and easy scheme .