dear
I m Diptiranjan from Kolkata and I'm a CMA student,I want to know difference between composition schem and casul scheme in GST.
kindly share your experience s.
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difference between Composition scheme and casul in GST
Replies (2)
When you are a casual registered dealer..you collect taxes on sales..claim input on your purchases..and pay the net amout as tax. Whereas in case of composition scheme..you cannot collect tax on your sales neither can u claim input tax credit. You just pay a certain % of tax frm ur sales (for eg: 1% of sales in case of traders..2% in case of manufacturers).
When you are a casual registered dealer..you collect taxes on sales..claim input on your purchases..and pay the net amout as tax. Whereas in case of composition scheme..you cannot collect tax on your sales neither can u claim input tax credit. You just pay a certain % of tax frm ur sales (for eg: 1% of sales in case of traders..2% in case of manufacturers).
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