Changes in Composition Scheme
- Composition scheme limit to be increased to Rs 1.5 crore (can be extended to Rs 2 crore later).
- 1 % GST rate for manufacturers & traders
- Composition tax of 1% on turnover of taxable goods (turnover of exempted goods to be excluded)
- Those supplying goods and services (services not exceeding Rs 5 lakhs in total) eligible for compositions scheme
- Composition Returns, GSTR-4 due date extended to 24th December
Composition dealers cannot make inter-state sales. Input tax benefit not allowed
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