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composition scheme

Sandesh Shet (student) (202 Points)

15 May 2017

please explain composition scheme under GST.. returns to be filled monthly or quarterly? please tell the rate

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CA Altamush Zafar (GST Consultant) (15961 Points)
Replied 15 May 2017

Composition scheme is for those whose turnover is 50 lakh or less.
Service suppliers are not allowed to take composition scheme with the exception of outdoor catering and restaurant.
Rates are 5% for outdoor catering and restaurant, 2% for manufacturers and 1% for others.
The composition scheme supplier can neither take credits nor can charge GST on customers. He will have to pay GST from his own pocket.
Instead of monthly quarterly returns will be filed.

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