What is the GST composition scheme and can I opt for the same?

Q: What is the GST composition scheme and can I opt for the same?

This scheme is for manufacturers and small traders wishing to pay GST at a fixed turnover rate. Businesses with less than 1 crore turnover can opt for this scheme.

Single form 16- Salary Income, Housing Interest and Other Income.

300

Multiple form 16 – Salary, Rental Income & Housing Interest and Other Income.

400

Single / Multiple form 16 – Salary, Rental Income & Housing Interest , Capital Gain Sale of Property and Other Income.

750

NRI and Foreign Income

2500

Upto 25 Transactions per return- Rs 750 per return

750

Upto 50 Transactions per return- Rs 1000 per return

1000

Above 50 transactions per return- Rs 1500 per return

1500

For business owner who want to file their return under presumptive taxtion. – Rs 1500

1500

For Partnership Firms – Rs 2500

2500

For Private Limiteds – Rs 4000

4000

Upto 100 transaction – Rs 1000

1000

100 to 300 Transactions – Rs 2000

2000

300 – 500 Transactions – Rs 3000

3000

500 to 1000 Transactions – Rs 4000

4000

1000 and more – Rs 5000

5000

Private Limited – Rs 7500

7500

LLP – Rs 5000

5000

NIL – Rs 500

500

Upto 25 – 1000

1000

Upto 50 – 1500

1500

Upto – 100 – 2500

2500

More than 100 – 3500

3500

GST Registrations – Rs 1000

1000

Private Limited – Rs 5000

5000

LLP – Rs 5000

5000

Partnership – Rs 7500

75000

Sole Proprietorship – Rs 3000

3000

OPC – Rs 5000

5000

Class 2 DSC Rs 1500

1500

TAN Application – Rs 500

500

Udyog Aadhar – Rs 500

500

What is the GST composition scheme and can I opt for the same?

What is the GST composition scheme and can I opt for the same?

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