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Small taxable persons do not have sufficient knowledge and expertise to comply with the requirements relating to records and accounts. Hence, a simplified ‘composition scheme’ has been designed for them
Institute of Chartered Accountants of India (ICAI) issued Handbook on Composition Scheme under GST in February 2026.
Regular taxpayers can opt for the Composition Scheme for the Financial Year 2026–27 by accessing the GST Portal and navigating to Services …
The Goods and Services Tax (GST) in India has introduced the Composition Scheme as a simplified taxation option for small taxpayers. This scheme aims to reduce the compliance burden and make taxation easier for businesses with a lower turnover.
GSTN enabled the filing of CMP-02 by which taxpayers can opt for the Composition Scheme for FY 2025-26 via GST Portal (‘Services -> Registration -> Application to Opt for Composition Levy’) from February 4 to March 31, 2025.
HC condoned delay for filing Form ITC-01 and directed AO to permit assessee to file it
The Comptroller and Auditor General (CAG) has asked the Finance Ministry to identify high risk taxpayers in the GST composition scheme on a periodical basis and verify from other sources, including …
CBIC issued Circular No. 223/17/2024-GST on 10.07.2024 on amendment in circular no. 1/1/2017 in respect of Proper officer for provisions relating to Registration and Composition levy under the Central Goods and Services Tax Act, 2017 or the rules made thereunder.
In July of 2017, while the nation was already having a heated debate on demonetisation, the government implemented the Goods…
Taxpayers can opt for Composition Scheme for the Financial Year 2024-25 by accessing the GST Portal, which will be open…