ISSN 2394-5125
 

Research Article 


COMPOSITION SCHEME UNDER GST FACILITATE FOR SMALL SCALE BUSINESSES AND CONSUMERS

Prof. Dr Rupa Khanna Malhotra, Rakesh Kumar.

Abstract
Composition Scheme under Goods and services tax reduced burden of compliances and to
small taxpayers. Scheme is applicable up to turnover Rs. 1.5 Crore (75 Lakhs in case of special Status
states) in preceding financial year. However Composition Scheme limits numbers of benefit like input tax
credit not applicable under this scheme. Composition scheme person required to pay tax under reverse
charge mechanism. In addition composition person cannot pass on tax burden to consumers. On the other
side consumers also get goods and services at reduced GST rate. So that under Composition Scheme both
consumer and dealer get benefit. However, scheme is limit-off in intra –state trade only. In addition, Icecream,
Pan Masala Tabbaco business, Casual taxpayer e-commerce and Non-resident person cannot avail this
scheme

Key words: Compliances, Reverse Charge Mechanism, Composition Scheme, intra-state trade, input tax credit, Consumers


 
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Pubmed Style

Prof. Dr Rupa Khanna Malhotra, Rakesh Kumar. COMPOSITION SCHEME UNDER GST FACILITATE FOR SMALL SCALE BUSINESSES AND CONSUMERS. JCR. 2019; 6(5): 401-407. doi:10.31838/jcr.06.05.68


Web Style

Prof. Dr Rupa Khanna Malhotra, Rakesh Kumar. COMPOSITION SCHEME UNDER GST FACILITATE FOR SMALL SCALE BUSINESSES AND CONSUMERS. http://www.jcreview.com/?mno=63266 [Access: August 17, 2021]. doi:10.31838/jcr.06.05.68


AMA (American Medical Association) Style

Prof. Dr Rupa Khanna Malhotra, Rakesh Kumar. COMPOSITION SCHEME UNDER GST FACILITATE FOR SMALL SCALE BUSINESSES AND CONSUMERS. JCR. 2019; 6(5): 401-407. doi:10.31838/jcr.06.05.68



Vancouver/ICMJE Style

Prof. Dr Rupa Khanna Malhotra, Rakesh Kumar. COMPOSITION SCHEME UNDER GST FACILITATE FOR SMALL SCALE BUSINESSES AND CONSUMERS. JCR. (2019), [cited August 17, 2021]; 6(5): 401-407. doi:10.31838/jcr.06.05.68



Harvard Style

Prof. Dr Rupa Khanna Malhotra, Rakesh Kumar (2019) COMPOSITION SCHEME UNDER GST FACILITATE FOR SMALL SCALE BUSINESSES AND CONSUMERS. JCR, 6 (5), 401-407. doi:10.31838/jcr.06.05.68



Turabian Style

Prof. Dr Rupa Khanna Malhotra, Rakesh Kumar. 2019. COMPOSITION SCHEME UNDER GST FACILITATE FOR SMALL SCALE BUSINESSES AND CONSUMERS. Journal of Critical Reviews, 6 (5), 401-407. doi:10.31838/jcr.06.05.68



Chicago Style

Prof. Dr Rupa Khanna Malhotra, Rakesh Kumar. "COMPOSITION SCHEME UNDER GST FACILITATE FOR SMALL SCALE BUSINESSES AND CONSUMERS." Journal of Critical Reviews 6 (2019), 401-407. doi:10.31838/jcr.06.05.68



MLA (The Modern Language Association) Style

Prof. Dr Rupa Khanna Malhotra, Rakesh Kumar. "COMPOSITION SCHEME UNDER GST FACILITATE FOR SMALL SCALE BUSINESSES AND CONSUMERS." Journal of Critical Reviews 6.5 (2019), 401-407. Print. doi:10.31838/jcr.06.05.68



APA (American Psychological Association) Style

Prof. Dr Rupa Khanna Malhotra, Rakesh Kumar (2019) COMPOSITION SCHEME UNDER GST FACILITATE FOR SMALL SCALE BUSINESSES AND CONSUMERS. Journal of Critical Reviews, 6 (5), 401-407. doi:10.31838/jcr.06.05.68