Benefit of composite or regular scheme jewellery shop

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(Querist)
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25 January 2022 Sir,
A gst registered composite scheme jewellery business dealer sales turnover rs:60 lacs yearly.if dealer convert composite scheme to regular scheme applied recently.
Question:
benefit of composite or regular scheme jewellery business dealer .

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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25 January 2022 Composition dealer less GST compliance lower tax customers may prefer.
Regular scheme ITC can be availed.

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Lekhraj sood

Lekhraj sood (Expert)
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30 January 2022 Your sales will be mostly B to C. The rate of GST chargeable will be much lower than regular dealer. So it is beneficial to go for composition scheme till you reach the threshold limit of Rs.1.50 cr.