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

    Oct 13, 2023 · Composition Scheme is a simple and easy scheme under GST for taxpayers. Small taxpayers can get rid of tedious GST formalities and pay GST at a fixed rate of turnover. This scheme can be opted by any taxpayer whose turnover is less than Rs. 1.5 crore*. You can know whether a taxpayer opted for a composition scheme or not using the GST search tool.

  2. irisgst.com › composition-scheme-under-gst-forComposition Scheme under GST for Restaurant and Hotel Services

    • Registering for Composition Scheme by Restaurants: As the turnover limit of opting for composition scheme under GST is upto Rs. 1.5 CR, hence any restaurant whose annual turnover is upto Rs.
    • Restaurants that cannot register as Composite Taxpayers: A restaurant serving alcoholic liquor of any form cannot opt for the composition scheme. A restaurant having a place of business in different states.
    • Conditions for Restaurants opting Composition Scheme: Cannot collect GST from their customers nor can they issue a taxable Tax invoice under GST. Required to issue “Bill of Supply” mentioning “Composition Taxable Person” on the same.
    • GST Rate for Restaurant Services: Restaurants opting for Composition Scheme under GST are required to pay GST at a concessional rate of 5% on the annual turnover without the benefit of ITC.

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  4. gsthero.com › gst-on-restaurant-services-hotelsGST on Restaurants & Hotels: Composition Scheme under GST

    Feb 9, 2024 · CA Poonam Gandhi. Updated on February 9th, 2024. In the present article, we are going to discuss at large the GST Composition Scheme as applicable to the Restaurants and Hotels. Many a time we should have noticed that people misuse the word ‘Hotel’ even for the ‘Restaurant’.

  5. cleartax.in › s › gst-composition-scheme-restaurantsRestaurants Under GST Composition Scheme - ClearTax

    • GST Rates on Restaurant Bills (with effect from 01.10.2019) S No. Type of Restaurants. GST Rate 1 Railways/IRCTC. 5% without ITC 2 Standalone restaurants. 5% without ITC.
    • GST Composition Scheme Rules. Restaurants are required to pay GST at a concessional rate of 5% on the turnover under Composition Scheme subject to following restrictions.
    • Regular Tax Payer V/s Composition dealer. Particulars. Regular Tax Payer. Composite Tax Payer. Registration. Threshold limit – Rs. 20L. 1.5 Cr.
    • Identify Restaurant under Composition Scheme. Restaurants opting for the composition scheme must mention the words “composition taxable person, not eligible to collect tax on supplies” on the top of the bill of supply.

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

    Feb 10, 2023 · Composition Scheme Under GST Explained. By Annapoorna. |. Updated on: Feb 10th, 2023. |. 12 min read. In this article, we have addressed some of the basic queries around Composition Scheme under Goods and Services Tax Law. Latest Updates on composition scheme. 6th February 2023.

  7. 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. This scheme is only applicable to those whose turnover is not exceeding Rs. 1.5 Crores. ELIGIBLITY FOR COMPOSITION SCHEME:

  8. www.taxbuddy.com › blog › gst-composition-schemeGST Composition Scheme: Benefits and Eligibility Explained

    Aug 21, 2023 · What is the composition scheme under GST?The blog post has brought together the intricacies of the GST composition scheme. Crafted to simplify the complexities of GST formalities, this scheme is a boon for taxpayers whose turnover remains below the ₹1.5 Crores threshold.