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Overview
Welcome to our GST Registration – Composition page where we provide or deliver comprehensive information about GST registration services for small businesses or organizations. We are a team of experienced GST consultants who can assist you in the GST registration procedure and ensure or assure you that your business completely complies with the latest GST rules and regulations.
The GST composition scheme is a simplified tax-paying mechanism designed for small businesses. It offers significant benefits such as reduced compliance and paperwork and lower tax liability. Under the composition scheme, small businesses have to pay a fixed tax rate that ranges from 1% to 6% of the turnover. This scheme brings great relief to small business owners who can focus on their business operations without worrying about complex tax calculations and filings.
Gst Registration Requirements:-
To be eligible for GST registration under the composition scheme, your business must have an annual turnover or income of less than Rs. 1.5 crore. Additionally, you cannot engage in inter-state supplies or exports of goods or services. If your business meets or fulfills these requirements, you can opt for the composition scheme and enjoy the benefits of simplified tax compliance and lower tax liability.
Our GST consultants or experts have experience using the GST portal registration along with additional GST services. We will assist you in registering for the GST site and make sure all necessary paperwork is submitted properly. Our team of GST advisors can assist you if you have questions regarding the GST registration procedure or need help adhering to or attaching to the GST regulations. We can help you through the process because we have a great deal of expertise in helping small businesses with GST.
GST registration under the composition scheme can provide significant benefits to small businesses. With our GST registration services, you can ensure that your business fully complies with the latest GST regulations and enjoy the benefits of reduced compliance and paperwork and lower tax liability. Our team of GST consultants is here to assist you throughout the GST registration process and ensure that your business is on the path to success.
Required Documents
PAN Card of Entity
PAN Card of Proprietor/Partners/Directors
Aadhar Card of Proprietor/Partners/Directors
Address proof of Proprietor/Partners/Directors (Aadhar/Driving License/Passport/Voter ID Card)
Passport size Photo of Proprietor/Partners/Directors
Address proof of Place of Business (Rent Deed/Lease Deed or NOC from Owner, along with utility bill in the name of owner)
Board Resolution/ Authorisation Letter for Authorized signatory (for HUF, LLP & Company)
Incorporation Certificate of LLP & Company
Partnership Deed in case of Partnership
DSC of Authorised Signatory (in case of LLP & Company)
Mobile Number and Email Address
Business Name and Nature of Business Activity
Process
Receive Documents from Client
Verification of Documents
Submission of Documents on GST portal
Obtain GST Registration certificate and provide to client
Frequently Asked Question
Composition levy under GST is an alternate tax payment method designed for small taxpayers with an annual turnover of up to Rs. 75 lakhs (Rs. 50 lakhs in some states) to simplify the tax payment process and reduce compliance costs. Taxpayers who opt for the composition scheme can pay tax at a prescribed percentage of their turnover every quarter instead of the normal or regular tax rate. Participation in this scheme is optional.
The eligibility category for opting for the composition levy under GST is small taxpayers whose aggregate turnover in the previous financial year did not exceed Rs. 75 lakhs. However, for certain Special Category States such as Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura, and Himachal Pradesh, the turnover limit for composition levy for both Central tax and State tax purposes is Rs. 50 lakhs.
Casual taxpayers, non-resident taxpayers, suppliers with combined annual revenue of more than Rs. 75 lakhs, and other individuals are not eligible for the composition scheme under GST. suppliers who purchased any goods or services from unregistered suppliers without paying GST on a reverse charge basis, suppliers of services (other than restaurant service), persons supplying goods not taxable under GST law, persons making any inter-State outward supplies of goods, and suppliers making any supply of goods through an electronic commerce operator who is required to collect tax at source under section 52.
A person who opts for the composition levy scheme will pay tax on a quarterly basis. The tax is due before the 18th of the month following the end of the quarter during which the supplies were made.
No, a person who has opted to pay tax under the composition scheme is not eligible to claim an Input Tax Credit on their inward supplies. This is because the composition scheme or plan is designed to simplify the tax compliance process for small taxpayers, and therefore, Input Tax Credit is not available under this scheme.
No, a person paying tax under the composition scheme cannot issue a tax invoice under GST. Instead, they can issue a bill of supply instead of a tax invoice.
In GSTR-4, a taxpayer paying tax under the composition scheme needs to furnish details of their turnover in the State/Union territory, their inward supplies of goods or services, or both, and the tax payable. A quarterly filing of this return is required.
To avail of the composition scheme, a taxable person needs to electronically file intimation in either FORM GST CMP-01 (at the beginning of the financial year) or FORM GST CMP-02 (at the time of opting for the scheme during the year).
No, the option to pay tax under the composition levy cannot be exercised at any time of the year. The taxpayer needs to give an electronic option in FORM GST CMP-02 before the start of the relevant financial year.