![\"composition-scheme-advantages-and-disadvantages\"](\"https:\/\/www.gstrobo.com\/blog\/wp-content\/uploads\/2021\/06\/composition-scheme-advantages-and-disadvantages.png\")
<\/figure><\/div>\n\n\n\nAbout Composition Scheme under GST <\/h3>\n\n\n\n
A composition Scheme under GST was introduced with the motive to help the small enterprises to comply with the GST provisions and relax the tax levied on them. So, keeping this in mind, the GST return<\/a> filing frequency was changed to quarterly instead of monthly under the Composition Scheme for the taxpayers whose aggregate turnover during a financial year is less than INR 1.5 Crores. Moreover, every composition scheme holder can pay GST on the goods or\/and services at the flat GST rate. <\/p>\n\n\n\n Once a taxpayer registers for the composition scheme under GST, a flat GST rate applies to all the goods or\/and services that he\/she supplies or renders. The current tax rate applicable under the GST composition scheme are: <\/p>\n\n\n\n The limit of composition scheme under GST depends on the type of business:\u202f <\/p>\n\n\n\n In the case of a newly registered business, the turnover during the current fiscal year shall not exceed INR 1.5 crores. <\/p>\n\n\n\n In the case of a registered business, the turnover during the previous fiscal year shall not exceed INR 1.5 crores. <\/p>\n\n\n\n In the case of a newly registered business, the turnover during the current fiscal year shall not exceed INR 1.5 crores. <\/p>\n\n\n\n In the case of a registered business, the turnover during the current fiscal year shall not exceed INR 1.5 crores. <\/p>\n\n\n\n In the case of a newly registered business, the turnover during the current fiscal year shall not exceed INR 50 Lakhs. <\/p>\n\n\n\n In the case of a registered business, the turnover during the current fiscal year shall not exceed INR 50 Lakhs. <\/p>\n\n\n\n In case if the turnover exceeds the limit of the composition scheme during a fiscal year, they will have to convert to the regular taxpayers to comply with the GST provisions. <\/p>\n\n\n\n Here is the list of persons who cannot opt for composition scheme under GST: <\/p>\n\n\n\n As we already know that every pro has a con. Similarly, the GST composition scheme has advantages and disadvantages too. <\/p>\n\n\n\n Advantages of GST Composition Scheme<\/strong> <\/p>\n\n\n\n Disadvantages of GST Composition Scheme<\/strong> <\/p>\n\n\n\n GSTrobo\u00ae a division of\u202fBinary Semantics<\/a>\u202fLtd is one of the leading ASP- GSP who provides industry-leading GST compliance software such as\u202fGST<\/a>,\u202fe-way bill<\/a>, and\u202fe-invoicing<\/a>\u202fsoftware. These solutions not only seamlessly integrate with all the ERPs but also automates most of your GST compliance. <\/p>\n","protected":false},"excerpt":{"rendered":" The GST has not only helped large enterprises to grow and expand but also had some major schemes for small enterprises. One such scheme is the Composition Scheme which was introduced under GST to relax the tax compliance of small enterprises. But as we know that every advantage has a disadvantage. So, in this blog, we will … <\/p>\n","protected":false},"author":1,"featured_media":1041,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"ub_ctt_via":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[68],"tags":[213,211,212],"class_list":["post-705","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gst","tag-advantages-of-gst-composition-scheme","tag-composition-scheme","tag-composition-scheme-under-gst"],"aioseo_notices":[],"featured_image_src":"https:\/\/gstrobo.com\/blog\/wp-content\/uploads\/2021\/06\/composition-scheme-advantages-and-disadvantages.png","author_info":{"display_name":"GSTrobo","author_link":"https:\/\/gstrobo.com\/blog\/author\/gstblog\/"},"_links":{"self":[{"href":"https:\/\/gstrobo.com\/blog\/wp-json\/wp\/v2\/posts\/705","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gstrobo.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gstrobo.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gstrobo.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/gstrobo.com\/blog\/wp-json\/wp\/v2\/comments?post=705"}],"version-history":[{"count":6,"href":"https:\/\/gstrobo.com\/blog\/wp-json\/wp\/v2\/posts\/705\/revisions"}],"predecessor-version":[{"id":2110,"href":"https:\/\/gstrobo.com\/blog\/wp-json\/wp\/v2\/posts\/705\/revisions\/2110"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/gstrobo.com\/blog\/wp-json\/wp\/v2\/media\/1041"}],"wp:attachment":[{"href":"https:\/\/gstrobo.com\/blog\/wp-json\/wp\/v2\/media?parent=705"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gstrobo.com\/blog\/wp-json\/wp\/v2\/categories?post=705"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gstrobo.com\/blog\/wp-json\/wp\/v2\/tags?post=705"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Tax Rate Applicable under GST Composition Scheme <\/h3>\n\n\n\n
Limit of Composition Scheme under GST <\/h3>\n\n\n\n
Who Cannot opt for Composition Scheme under GST? <\/h3>\n\n\n\n
Advantages and Disadvantages of GST Composition Scheme under GST <\/h3>\n\n\n\n
How Can GSTrobo\u00ae Help you? <\/h3>\n\n\n\n