JioGST - 'Composition Scheme' Simplified
- GST has created this special facility for small Tax-payers to pay tax at specified lower rates without getting into multiple GST compliances.
- The dealer who opt for Composition Scheme have to file only one quaterly return with details of total turnover.
- Invoice with details are not necessary, bill of supply will suffice.
- Small Tax-payers are not required to give HSN code in their returns.
- In the Composition scheme, no Input Tax Credit can be taken or passed on.