dear sir person want to do trading activities and services activities can he apply for composition registration is there any notification for that pls advise
Composition Scheme is a single and easy scheme under GST for small taxpayers can get rid of tedious GST formalities and pay GST at a fixed rate of turnover.The scheme can be opted by any Taxpayer whose turnover less than ₹ 1.50 Crore.
Taxpayers or people whose annual turnover up to INR 1.5 crore in a financial year can opt for composition scheme. If person providing services along with service than income from service activities shouldn't exceed 10% of total turnover or 5 lakh whichever is higher. Rate of GST is 1% on outward supply. Composition Taxpayer can not charge GST in bill from customer and also not eligible to take Input tax credit on purchases.
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