under scheme composition
Thanks Mr. Pranav
Always Welcome !
Dear Sir
Please provide your Business Nature as if you are providing Services you are not eligible for Composition Scheme.
If you dealing in Goods you can be eligible only if Your Last Year Turnover was Less than or upto 1 Crore Rupees.
So in simple words, If you are a Retailer/Small Trader/Small Manufacturer then Opting Composition Scheme will be beneficial to you.
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Dear Deepak Jee,
Advantage of Composation Scheme:
- Quertly return to be filed
- Tax to be deposited a fixed percentage to turnover.
- No need to raise tax invoice
- Free from other compliance burden etc.
Disadvantage:
- You have to bear tax amount from your own pocket.
- You can't avail ITC
- You may face diffculties in case of B2B transcation
Decide according to your business profile. As you have not mentioned your business activities, Direct openion can't be made whether to opt or not without knowing the fact.