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Composition scheme

veera (self) (287 Points)

20 October 2019

Sir, i have to registering my computer hardware &software business under gst so can i opt for composition scheme . Or which type of composition i have to opt for my business if i am eligible to take registration under composition scheme.

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160322 Points)
Replied 21 October 2019

Depending upon the transaction ratio you can opt for 1% or 6% composition scheme.

The composition levy rates under GST are as follows:

1% of the turnover for traders and other suppliers eligible for composition scheme registration. provided service component is below 10% of total turnover, capped at 5 lakhs.
2% of the turnover for manufacturers apart from manufacturers of products not eligible for GST composition scheme
5% of the turnover for restaurant services
6% of the turnover for businesses providing services/mixed services (other than restaurant services), if gross annual turnover is below 50 lakhs.

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Saifullah Khalid (Autodidact/Curious ) (633 Points)
Replied 22 October 2019

Originally posted by : Dhirajlal Rambhia
	Depending upon the transaction ratio you can opt for 1% or 6% composition scheme. The composition levy rates under GST are as follows: 1% of the turnover for traders and other suppliers eligible for composition scheme registration. provided service component is below 10% of total turnover, capped at 5 lakhs. 2% of the turnover for manufacturers apart from manufacturers of products not eligible for GST composition scheme