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Composite scheme
What are the benefits under composite schemes??
Replies (2)
Explained in this link
https://www.google.co.in/url?sa=t&source=web&cd=5&ved=0ahUKEwiVtYCw4oHVAhUOSo8KHWPQDWAQFggqMAQ&url=http%3A%2F%2Fwww.cbec.gov.in%2Fhtdocs-cbec%2Fgst%2Ffaq-composition-levy-revised.pdf&usg=AFQjCNH2utjRxeWpeOx9DFpxQ2R8aU71jQ
https://www.google.co.in/url?sa=t&source=web&cd=5&ved=0ahUKEwiVtYCw4oHVAhUOSo8KHWPQDWAQFggqMAQ&url=http%3A%2F%2Fwww.cbec.gov.in%2Fhtdocs-cbec%2Fgst%2Ffaq-composition-levy-revised.pdf&usg=AFQjCNH2utjRxeWpeOx9DFpxQ2R8aU71jQ
1. Return has to filed quarterly instead of monthly returns.
2. You need not calculate and maintain details for input tax credits
3. You would be able to save yourself from tedious task of calculating your ultimate output tax liability after adjusting it with ITC.
4. You would have to simply pay the tax at a specified percentage on your turnover.
2. You need not calculate and maintain details for input tax credits
3. You would be able to save yourself from tedious task of calculating your ultimate output tax liability after adjusting it with ITC.
4. You would have to simply pay the tax at a specified percentage on your turnover.
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