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GST Composition Scheme.

GST is applicable for the business entities whose turnover is above Rs. 40 lakhs* in a year (Rs. 10 lakhs for north eastern states). A small business entity (ie. with a turnover is below Rs. 1.5 crores (Rs. 75 laksh in North Eastern states)) for traders and Rs. 50 lakhs for service providers can opt for GST Composition Scheme for lowering the GST. This scheme is designed to lower the tax burden for a small business entity where they can pay fixed rate of tax on turnover. However, a person making inter-state sales or supplies, a non-resident taxable person, a business which supplies goods through e-commerce and a manufacturer of tobacco, ice-cream, pan masala can not opt for this scheme. The composition dealer may enjoy the fixed rate of tax on turnover subject to the following conditions:

  1. Input tax can not be claimed by a composition taxable person.
  2. Composition taxable person can not supply exempted goods or services.
  3. If he perchases goods or services from an unregistered dealer, he has to pay tax through reverse charge mechanism at normal tax rates.
  4. A composition taxable person can not issue a tax invoice, because he can not charge from customers instead he pays a fixed percentage on his turnover. Instead of tax invoice he issues Bill of Supply.
  5. A composition taxable person has to club all his business under one PAN.
  6. A composition taxable person has to mention the words "COMPOSITION TAXABLE PERSON" on every notice, bill of supply, name board etc.,
  7. The compostion taxable person, who is a trader can alos provide services up to 10% of his turnover or Rs. 5 lakhs, which ever is higher.
  8. A person willing to opt for composition will opt only at the begining of the financial year. No dealer can opt for composition in the middile of the financial year.

The composition taxable person can file a quarterly return in CMP-8 by 18th of the month after end of the quarter and an annual return in GSTR-9A (ie. presently waived off) has to be filed by by 31st December of next financial year. However, the payment of tax has to be made on monthly basis.

Composition Scheme GST Rates:

Type of Business CGST SGST Total
Manufacturer & Traders (Goods) 0.5% 0.5% 1%
Restaurants not serving alcohol 2.5% 2.5% 5%
Other Service Providers* 3% 3% 6%

CompaniesHouse is an MCA Authorized Company Registered Agent in India. The object of the CompaniesHouse is to minimize the cost in registering GST throughout India.

For detailed information and documentation you can Click Here

ADVANTAGES.

FAQ

What is GST?

GST is Goods and Services Tax and it an indirect tax.

GST is applicable from which date?

It came in to effect from 01.07.2017.

Who is required to register under GST?

Any business entity whose turnover is above Rs. 40 lakhs (Rs. 10 lakhs in North Eastern States, Jammu & Kashmir, Himachal Prdesh and Uttarakhand) is required to register under GST.

What is composition scheme?

It is a scheme implemented for small business entities for paing lesser GST. If you opt for composition schem, you can get benefits of paying lesser taxes.

For whom composition scheme is applicable?

Small businesses with a turnover is below Rs. 1.5 crores (Rs. 75 laksh in North Eastern states) can benefit lower taxes by utilising composition scheme.

In howmany days a GST can be registered?

In 4 to 5 business days.

What is the government fee for GST Registration?

Nil

DOCUMENTS REQUIRED

  • Directors Photos
  • Directors PAN
  • Directors ID Proof: Aadhaar/Voter Id/Passport
  • Directors Address Proof: Aadhaar/Voter Id/Passport
  • Office latest electricity bill
  • NOC/Rental Agreement from owner
  • Certiicate of Incorporation
  • MOA, AOA & Company PAN

PRICING & DELIVERABLES

Economy Plan

GST Registration

Rs999/InclTax
EMI OPTION
  • GST Registration
  • ICICI Current Banking Account
  • Free GST & Accounting Software
  • Free GST e-Way bill Software
  • All Business Documents free
  • Free book - Companies Act, 2013
  • Company Rules
  • Company Regulations
  • Company Circulars

Notes:

  1. The valid email id and mobile numbers of directors have to be given.
  2. If the business entity has more than one office, an extra fee of Rs. 999 will be charged.
  3. GST registration is subject to approval of GST officer.
  4. The normalt time for gettting GST registration is 4 o 5 working days. But some times, it may get delayed due to various reasons such as system errors, correction in documents, pan validation etc.,.
  5. If the GST applicatio is rejected, we will apply for GST registration again at free of cost.
  6. The directors have to provide valid rental agreement and later power bill of the registered office.
  7. If you are unnder annual compliance, all the GST returns are filed free of cost otherwise, a monthly fee of Rs. 300 for nil returns and Rs. 500/- for tax returns will be charged.
  8. All soft copies of sales or services and purchases have to be provided by client for return filing purpose.
  9. The company has to inform us whether he wants to opt composition scheme or not.
  10. The company has to pay the GST challans online
  11. The company has to inform us whether they want to choose monthly or quarterly return.

WHAT CLIENTS SAYS?

You are truly experienced in Company Registrations. Keep it up!

Ram Kumar Chilukuri Director, Anewa Engineering Pvt Ltd 02.06.2016

Thanks for your continuous support. God bless you!

Nrupesh CFO, Blujay Solutions Private Limited 14.06.2016

Thank you CompaniesHouse for saving in Income Tax!

Avtar Singh Managing Partner, Chetak Transporters 25.06.2016

We are surprised to get our Company registered in one day. Thanks to you guys!

Mohammed Fasiuddin Director, Avidus Engineering Private Limited 29.06.2016

Thank you for the initial discussion as we choose best business format!

Lakshmi Keerthi Reddy Director, Lavanar Sea Food Farming Private Limited 01.09.2016

Thank you CompaniesHouse for reminding on timely statutory compliance!

Rambabu Director, Cybervillage Solutions Pvt ltd 05.09.2016

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