What is the Composition Scheme Under GST? What are advantages and disadvantages ?

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What is the Composition Scheme Under GST? What are advantages and disadvantages ?

Under Section 10 of GST Law there is a provision for Small Business firms to register under Composition Scheme with a maximum turnover of 75 Lakhs. How ever opting Composition Scheme is a optional. Even you have a lower turnover than 75Lakhs you can register under GST and do the normal filing of tax as for a big firm.

There is always some Advantage of Composition Scheme.

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