Hi,
I am having one query that I case of restaurant services why small business will opt for composition
scheme. As he has to pay 5% out of his pocket, can't bill outside state, no ITC for both composition and regular.
only 1 benefit is he has to file quarterly return instead of monthly return.
THOSE WHO ARE IN COMPOSITION SCHEME ALREADY INCLUDE THE TAX TO BE PAID BY THEM IN THEIR SALE PRICE.. JUST THAT IT IS NOT DISCLOSED SEPRATELY IN THE INVOICE
CAclubindia
