i am trading footware and a coffee shop ..i have inputs on purchase...my turnover will be less than 1.5cr..sjould i go for composition or regular reg.??..pls reply thanks in advance.
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Quick Summary
This discussion explores whether a small business owner, trading footwear and running a coffee shop with a turnover under 1.5 crore, should opt for a composition scheme or a regular tax scheme. The advice given leans towards the regular scheme, primarily because it allows the business to claim input tax credits on purchases, which is particularly beneficial for a footwear business.