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What is composition scheme?  

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(@admin)
Member Admin
Joined: 3 years  ago
Posts: 63
January 31, 2017 10:25 am  

This scheme is introduced for small tax payers to reduce the compliance burden on them. Business registered under composition scheme will be liable to pay tax only to a maximum of 2.5% for manufacturers and 1% for other than manufacturers. They would not be part of credit chain and hence cannot collect any tax from consumers.


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