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GST Composition

Composition Scheme is a simple and easy scheme under GST for taxpayers. Small taxpayers can get rid of tedious GST formalities and pay GST at a fixed rate of turnover. This scheme can be opted by any taxpayer whose turnover is less than Rs. 1.5 crore*

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GST COMPOSITION

First of all it is important to note that all the registered dealers are required to file GST Returns irrespective of the type of business or turnover or profitability during the return filing period. Under GST Regime, even a dormant business that has obtained GST registration must file GST return. Further, while running a business, maintaining books of accounts is essential. The Tax Department needs them, the bank or your investor might ask for them. Outsource your bookkeeping function and let professionals manage your business financial reporting. Bookkeeping is the process of recording financial transactions of a business in an accounting system and the creation of reports. As per section 128 of companies act 2013 read with related rules prescribed there under, every company is required to prepare and keep books of accounts at its registered office of the company. However, many small businesses do not have complete accounting departments and require external bookkeeping services. Realizing the need of the entrepreneurs, the plans are designed to provide all these services under one roof. These services (Book Keeping and GST filing) are bundled to give peace of mind to the entrepreneur so that the entrepreneur can focus on the core competences of the business and take the business to the next heights. The plans under this service are designed keeping in mind the paying capacity of the entrepreneur. The entrepreneur can choose a plan according to the turnover expected in a year. We assure you the flexibility in choosing a plan on monthly basis will not be provided by any services provider.

The dealer with the turnover of upto Rs. 1.5 crores can be registered under Composition Levy. However, casual taxable person and non-resident taxable persons cannot get registered under Composition Levy irrespective of their turnover. In case of North-Eastern states and Himachal Pradesh, the limit is Rs 75* lakh.

GST COMPOSITION

First of all it is important to note that all the registered dealers are required to file GST Returns irrespective of the type of business or turnover or profitability during the return filing period. Under GST Regime, even a dormant business that has obtained GST registration must file GST return. Further, while running a business, maintaining books of accounts is essential. The Tax Department needs them, the bank or your investor might ask for them. Outsource your bookkeeping function and let professionals manage your business financial reporting.

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GST Composition

If you need further clarification regarding the process of our working, do watch this video. It is a step by step guide to understand how to apply for GST Composition.

Realizing the needs of entrepreneurs registered under the Composition levy under Goods and Services Tax running the business of trading in goods, manufacturing of goods, providing restaurants services or other service providers we at Super CA offer the services of filing the GST returns of such entrepreneurs.

Since the dealers registered under the composition levy are not allowed to take Input Tax Credit, there is no requirement for maintain the books of accounts (unless and until required by the entrepreneur). Keeping this in mind, Super CA designed a plan which offers such entrepreneurs to file their GST returns hassel free together with maintaining their sales records in excel.

HOW WE WORK

ADVANTAGES

No need for accountant

To file the GST Composition Return the entrepreneur does not have to appoint the accountant or need to maintain the books. The entrepreneur just have to provide the sales bills on Super CA portal, the experts will prepare the GST return.

All records in excel

Since there is no need to maintain the books of accounts for the entrepreneur registered under GST Composition Scheme, at Super CA we maintain all your sale data in excel at no extra cost.

Less complicated

As all the records are maintained in excel, it become very easy for a entrepreneur to read/ study the excel and determine the quantum of sales in a month/quarter/ year. Moreover, the GST Expert will also help the entrepreneur to understand such as sheet.

COST SAVING

Since there is no requirement to maintain books of accounts and Super Ca provides composition registered entrepreneur the facility to maintain the sales record in excel at no extra cost, this helps the entrepreneurs in saving the huge cost.

Flexibility

The entrepreneur can migrate from composition to normal dealer in GST anytime after the end of a financial year.

High liquidity

Since the tax rates are comparatively low in case of composition dealer, this ensures high liquidity.

WHAT WE OFFER

PLAN A

500

PLUS TAXES(18%)

  • SALES RECORDS IN EXCEL

  • PERSONAL GST ACCOUNTANT(FOR EXCEL)

  • GST EXPERT

  • GST-CMP-08

  • PHONE/EMAIL/CHAT

  • GST PAYMENT SUPPORT

  • GSTR-9A

  • GET THIS PLAN @ ₹ 500/- P.M. PLUS GST

PLAN B

1250

PLUS TAXES(18%)

  • BOOK KEEPING

  • PERSONAL GST ACCOUNTANT(FOR EXCEL)

  • GST EXPERT

  • GST-CMP-08

  • PHONE/EMAIL/CHAT

  • GST PAYMENT SUPPORT

  • GSTR-9A

  • LEDGER ACCOUNTS

  • ACC. RECONCILIATION

  • BANK RECONCILIATION

  • ACCOUNTS RECEIVABLE/PAYABLE

  • GST THIS PLAN @ ₹ 1250/- P.M. PLUS GST

Documents Required for

GST Composition

Quarterly Sales Report

FREQUENTLY ASKED QUESTIONS

The dealer with the turnover of upto Rs. 1.5 crores can be registered under Composition Levy. However, casual taxable person and non-resident taxable persons cannot get registered under Composition Levy irrespective of their turnover.
Every composition dealers have to file a return GST CMP-08 quarterly by the 18th of the succeeding quarter.
The following people cannot opt for the scheme- • Manufacturer of ice cream, pan masala, or tobacco • A person making inter-state supplies • A casual taxable person or a non-resident taxable person • Businesses which supply goods through an e-commerce operator
No, a composition dealer cannot charge tax from their customers. They need to pay tax out of their own pocket.
The following conditions must be satisfied in order to opt for composition scheme: • No Input Tax Credit can be claimed by a dealer opting for composition scheme • The dealer cannot supply GST exempted goods • The taxpayer has to pay tax at normal rates for transactions under the Reverse Charge Mechanism

WHY CHOOSE US

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