https://www.taxtmi.com/article/detailed?id=7816 Composition scheme allows small taxpayers (aggregate PAN turnover within the threshold) limited to manufacturers, dealers and certain restaurants to pay tax at a composition rate on total sales while remaining liable to pay tax under the Reverse Charge Mechanism and on specified purchases and import of services at normal rates. Composition dealers cannot claim ITC, must issue a Bill of Supply, cannot collect composition tax from buyers, file GSTR 4 quarterly and annual GSTR 9A, and follow prescribed transition rules when switching between composition and regular schemes. en-us Sat, 13 Jan 2018 08:46:38 +0530 Sat, 13 Jan 2018 10:10:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=7816 Composition scheme allows small taxpayers (aggregate PAN turnover within the threshold) limited to manufacturers, dealers and certain restaurants to pay tax at a composition rate on total sales while remaining liable to pay tax under the Reverse Charge Mechanism and on specified purchases and import of services at normal rates. Composition dealers cannot claim ITC, must issue a Bill of Supply, cannot collect composition tax from buyers, file GSTR 4 quarterly and annual GSTR 9A, and follow prescribed transition rules when switching between composition and regular schemes. Articles Goods and Services Tax - GST Sat, 13 Jan 2018 08:46:38 +0530 https://www.taxtmi.com/article/detailed?id=7816