GST Return for Composition Dealer
*The price is exclusive of any amount payable to Government/Regulatory Authorities and GST.
This Service is for making quarterly GST payment through CMP-08 and filing GST annual return through GSTR-4. This services should be purchased by persons under Composition Scheme.
Services covered :
- Quarterly Payment through CMP-08
- Yearly Return through GSTR-4
Documents Required :
- Login details
- Details of all sales invoices
- Details of all purchase/Expense invoices for the purpose of RCM
Who can opt for Composition Scheme?
Businesses with annual turnover upto Rs 1.5* crore can opt for composition scheme. Turnover of all businesses with the same PAN has to be added up to calculate turnover for the purpose of the composition scheme.
Manufacturers of goods, Dealers, and Restaurants can only opt for this.
*For special category states the turnover limit is Rs 75 lakhs.
Is there any composition scheme for service providers?
Yes, service providers can also opt for composition scheme if their annual turnover upto Rs 50 lakhs.
Can person opting for Composition Scheme avail input tax credit?
Who cannot opt for Composition Scheme?
The following people cannot opt for the scheme-
a. Manufacturer of ice cream, pan masala, or tobacco.
b. A person making inter-state supplies.
c. A casual taxable person or a non-resident taxable person.
d. Businesses which supply goods through an e-commerce operator
Can a composition dealer issue tax invoices?
A composition dealer has to issue a Bill of Supply. They cannot issue a tax invoice. This is because the tax has to be paid by the dealer out of pocket. A composition dealer is not allowed to recover the GST from the customers.
What are the GST rates for a composition dealer?
a. For Manufacturers and Traders (goods) rate is 1% (total).
b. For Restaurants not serving Alcohol rate is 5% (total).
c. For Service Providers rate is 6% (total).
Is a person under composition scheme required to pay tax under reverse charge basis?
I have many branches. Will the composition scheme apply to each of them separately?
Composition scheme is considered to be opted for all businesses that are associated with a PAN. It cannot be opted branch wise.
What are the returns to be filed by a composition dealer?
A dealer is required to pay tax in a quarterly statement CMP-08. Also, a return in form GSTR-4 has to be filed annually.
Extremely delightful for the services provided by you, thanks a lot in filling my return in short time.
Must take a moment to recognise and appreciate Yash who was managing my papers . He is a diligent and patient guy but on the same hand also persuasive . Appreciate these traits . Wish him all the best .
I used to previously file my ITR through a professional, but I never understood why am I paying interest in my ITR even though I had filed my returns before due date. So, I went to AJVA for Tax Consultation they explained to me why I am paying interest and guided me on the Advance Tax concept and now I give them the required estimation of income and pay advance tax. It has helped me save a lot of money and avoid interest.
I wished to file my ITR at minimal cost, so I was convinced to file it by myself. During filing I came across a lot of queries but ignored it as didn’t seem much important. However, I received a notice from IT department as I had filed a defective return. To resolve this, I contacted AJVA, they not only resolved the issue but also guided me on how to file and where I went wrong.
I run an MSME but I was unaware what is the importance of Udyam Registration Certificate and the process, after consulting AJVA I learned that it is an identity certificate which is mandatory for all MSME’s for recognition. Thankfully I registered as a MSME in time with the help of AJVA and appreciate the co-ordination from the AJVA team.
I had started a new business but I had a lot of queries on how to Incorporate a company, where to apply, what documents are required and lot of other questions. The procedure was complicated and a time taking activity, I was hesitant to hire a professional for the incorporation process. Thankfully I found AJVA and they handled the entire Incorporation process and helped me complete the same in a timely manner.
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