Composition scheme simplifies GST compliance for small suppliers but bars input tax credit and interstate eligibility. The composition scheme is an optional simplified tax regime for eligible small taxpayers, limited primarily to specified goods supplies and subject to an aggregate turnover threshold. Composition taxpayers must issue a bill of supply, cannot collect tax from buyers, and are ineligible to claim input tax credit. Interstate supplies, supplies to SEZs, supplies through e commerce operators, casual and non resident taxable persons are excluded. Electronic intimation, quarterly and annual return filings, and prescribed procedures govern opt in, withdrawal, and consequences for breach, including assessment under the normal scheme and reversal mechanisms for ITC on stock.
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Provisions expressly mentioned in the judgment/order text.
Composition scheme simplifies GST compliance for small suppliers but bars input tax credit and interstate eligibility.
The composition scheme is an optional simplified tax regime for eligible small taxpayers, limited primarily to specified goods supplies and subject to an aggregate turnover threshold. Composition taxpayers must issue a bill of supply, cannot collect tax from buyers, and are ineligible to claim input tax credit. Interstate supplies, supplies to SEZs, supplies through e commerce operators, casual and non resident taxable persons are excluded. Electronic intimation, quarterly and annual return filings, and prescribed procedures govern opt in, withdrawal, and consequences for breach, including assessment under the normal scheme and reversal mechanisms for ITC on stock.
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