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Composition scheme is an alternative method to tax small taxpayers. It simplifies compliances and reduces compliance costs. The objective behind introduction of this scheme is to ensure proper tax collection by the government without troubling small taxpayers.
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The option of paying tax under this scheme shall be effective for persons that are already registered under GST from the appointed day and for persons registered under GST and switches to composition scheme from filing of intimation.
For those who have applied for fresh GST registration to opt scheme, the option to pay tax under composition scheme will be effective from where the application has been submitted within 30 days from the day the person becomes liable for registration, such date.
In the above mentioned case, the effective date of registration will be the date of grant of registration.
The registered person under Composition scheme paying tax under section 10 is not required to file a new intimation yearly, and there will be one-time suggestion to GST Department and the Registration under composition scheme is subject to compliance with the relevant GST Laws.
The composition scheme rules have been targeted to be strict for the persons availing of this scheme. The Composition scheme rules provides for all procedural compliance which includes intimation, date of levy, conditions and restrictions on the levy etc.
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Ashish M. Shaji has done his graduation in law (BA. LLB) from CCS University. He has keen interests in doing extensive research and writing on legal subjects especially on corporate law. He is a creative thinker and has a great interest in exploring legal subjects.
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