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GST Composition Scheme
Composition scheme is levied for all business verticals with the equal PAN. A taxable character will now not have the option to select composition scheme for one, prefer to pay taxes for other. for instance, A taxable man or woman has the following business verticals separately registered – Sale of shoes, the sale of mobiles, Franchisee of McDonald’s. here the composition scheme will be available to all 3 enterprise verticals.Dealers are not allowed to gather composition tax from the recipient of resources, and neither are they allowed to take input Tax credit with GST Registration. If the person is not eligible under composition scheme, tax legal responsibility will be TAX + interest and penalty which shall be identical to the quantity of tax.