{"id":194,"date":"2022-09-08T10:43:18","date_gmt":"2022-09-08T05:13:18","guid":{"rendered":"https:\/\/sgujar.com\/blog\/?p=194"},"modified":"2022-09-08T10:43:29","modified_gmt":"2022-09-08T05:13:29","slug":"regular-scheme-under-gst-composition-scheme","status":"publish","type":"post","link":"https:\/\/sgujar.com\/blog\/regular-scheme-under-gst-composition-scheme\/","title":{"rendered":"Regular Scheme Under GST: Composition Scheme"},"content":{"rendered":"

Goods Services Tax is the new concept introduced in the Indian market which is related to taxes. Soon after the introduction of these concepts, a lot of things are happing to and fro to make the rules under this concept quite convenient for every person. Earlier this year, the government raised the GST composition Scheme limit for manufacturers of goods to Rs. 1.5 crore from Rs. 1 crore.\u00a0<\/span><\/p>\n

This is the scheme that has relaxed the tax compliances and payments for individuals. This is one such scheme that provides some great benefits for B2B businesses and even B2C business types. Every person who is into business or any profession must know about\u00a0<\/span>direct taxation in India<\/b><\/a>.<\/span><\/p>\n

GST composition scheme is a scheme offered to all small-scale businesses. If you compare this with the regular GST filing, it provides the business with two benefits i.e. A lot of reduction in paperwork and lower tax liability. If a person applies for a composition scheme, the filling gets very easier as there is just a need to apply one quarterly return under GSTR 4 and one annual return under GSTR 9A.<\/span><\/p>\n

According to the rules, only manufacturing, and service businessmen and traders can register themselves under the GST composition scheme. Here are some of the exemptions related to this. Let\u2019s have a look at them.<\/span><\/p>\n