{"id":18271,"date":"2021-10-14T11:10:36","date_gmt":"2021-10-14T05:40:36","guid":{"rendered":"https:\/\/www.cagmc.com\/?p=18271"},"modified":"2024-06-03T11:37:01","modified_gmt":"2024-06-03T06:07:01","slug":"levy-under-gst-composition-scheme","status":"publish","type":"post","link":"https:\/\/www.cagmc.com\/blog\/levy-under-gst-composition-scheme\/","title":{"rendered":"Levy under GST Composition Scheme"},"content":{"rendered":"<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\"><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone wp-image-18282 size-full\" src=\"https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2021\/10\/Levy-under-GST-Composition-Scheme.png\" alt=\"Levy under GST Composition Scheme\" width=\"1200\" height=\"630\" srcset=\"https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2021\/10\/Levy-under-GST-Composition-Scheme.png 1200w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2021\/10\/Levy-under-GST-Composition-Scheme-300x158.png 300w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2021\/10\/Levy-under-GST-Composition-Scheme-1024x538.png 1024w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2021\/10\/Levy-under-GST-Composition-Scheme-615x323.png 615w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2021\/10\/Levy-under-GST-Composition-Scheme-400x210.png 400w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2021\/10\/Levy-under-GST-Composition-Scheme-292x153.png 292w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><a href=\"https:\/\/www.cagmc.com\/taxability-of-advances-taken-under-gst-regime\/\">GST regime<\/a> has borrowed various concepts from erstwhile Service Tax. Composition Scheme is one such concept. Keeping in view the small traders this concept is reintroduced in GST as well. Composition Scheme allows small traders to be a part of the tax net. The compliances under Composition Levy Scheme in GST are quite simple. Today in this article, we will discuss Composition Levy Scheme in GST.<\/span><\/p>\n<table>\n<tbody>\n<tr>\n<td>\n<p style=\"text-align: justify;\"><b>Table of Contents<\/b><\/p>\n<ul>\n<li style=\"text-align: justify;\"><a href=\"#What\">What is Composition Levy Scheme in GST?<\/a><\/li>\n<li style=\"text-align: justify;\"><a href=\"#Is\">Is it compulsory to get registered under GST to avail Composition Levy Scheme?<\/a><\/li>\n<li style=\"text-align: justify;\"><a href=\"#People\">People not Eligible for Composition Levy Scheme in GST<\/a><\/li>\n<li style=\"text-align: justify;\"><a href=\"#Rates\">Rates of Tax under Composition Levy Scheme<\/a><\/li>\n<li style=\"text-align: justify;\"><a href=\"#Conditions\">Conditions to be fulfilled by dealer registered under Composition Scheme<\/a><\/li>\n<li style=\"text-align: justify;\"><a href=\"#Consequences\">Consequences for availing the scheme wrongly<\/a><\/li>\n<li style=\"text-align: justify;\"><a href=\"#Withdrawal\">Withdrawal from Composition Levy Scheme in GST<\/a><\/li>\n<li id=\"What\"><a href=\"#Conclusion\">Conclusion<\/a><\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2 style=\"text-align: justify;\"><b>What is Composition Levy Scheme in GST?<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Under Composition Levy Scheme in <a href=\"https:\/\/www.cagmc.com\/gst-registration\/\">GST<\/a>, a registered taxable person, whose aggregate annual turnover does not exceed Rs. 1 crores (Rs.75 lakhs in case of specified states) in the previous financial year can opt for this scheme. A person registered under this scheme has to fulfil following requirements-<\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Pay tax at a fixed percentage of his annual turnover.**<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Pay the tax quarterly. The return filing also needs to be done quarterly. Return should be filled in form GSTR-04.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The person cannot issue a taxable invoice under GST. Also he cannot collect GST from his customers or inputs on his purchases.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span id=\"Is\" style=\"font-weight: 400;\">** For the purpose of annual turnover the amount will be totaled for all the entities that have same \u00a0 PAN throughout India. The sum of all outward supplies i.e. taxable, exempt, exports of goods and services, Interstate supplies will be taken. However, tax portion and transactions where tax is paid under RCM Mechanism will be excluded.<\/span><\/p>\n<h2 style=\"text-align: justify;\"><b>Is it compulsory to get registered under GST to avail Composition Levy Scheme?<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">As per GST law, any person who wants to opt for Composition Levy Scheme should be registered under <a href=\"https:\/\/www.cagmc.com\/what-is-the-present-status-of-gst-in-india\/\">GST<\/a>. The person already registered needs to intimate that from which day he wishes to opt for Composition Levy Scheme. He needs to fulfil following formalities-<\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The person needs to file the intimation in FORM CMP-01 on the common portal (<\/span><a href=\"http:\/\/www.gst.gov.in\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">www.gst.gov.in<\/span><\/a><span style=\"font-weight: 400;\">)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The person also needs to file CMP-03. In this form he should inform that how much stock he is holding on the transition date that is purchased from an unregistered dealer.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Any person who is taking a fresh registration to opt for Composition Levy Scheme, should file the fill the necessary information under PART B of FORM GST REG-01.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Any person who is already registered under GST has to file form CMP-02 to inform his choice of opting Composition Scheme to the government.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span id=\"People\" style=\"font-weight: 400;\">\u00a0It may be noted that if a person has got different registrations in different states but has same PAN, then he has to opt for Composition Scheme for all those entities. Also if one entity is found ineligible than it will be applicable on all the entities.<\/span><\/p>\n<h2 style=\"text-align: justify;\"><b>People not Eligible for Composition Levy Scheme in GST<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The following people are not eligible for Composition Levy Scheme under GST-<\/span><\/p>\n<table>\n<tbody>\n<tr>\n<td><b>Category of Person<\/b><\/td>\n<td><b>Description<\/b><\/td>\n<\/tr>\n<tr>\n<td>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Casual Taxable Person<\/span><\/li>\n<\/ul>\n<\/td>\n<td><span style=\"font-weight: 400;\">Person who does not have a fixed place of business in a particular state. But he undertakes transactions in that place occasionally.<\/span><\/td>\n<\/tr>\n<tr>\n<td>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Non- Resident Taxable Person<\/span><\/li>\n<\/ul>\n<\/td>\n<td><span style=\"font-weight: 400;\">Any person who occasionally undertakes supplies but does not have fixed place of transaction in India<\/span><\/td>\n<\/tr>\n<tr>\n<td>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Supplier of service<\/span><\/li>\n<\/ul>\n<\/td>\n<td><span style=\"font-weight: 400;\">Any service supplier except restaurant service<\/span><\/td>\n<\/tr>\n<tr>\n<td>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Person engaged in supply of goods<\/span><\/li>\n<\/ul>\n<\/td>\n<td><span style=\"font-weight: 400;\">&#8211; Where such goods are non-taxable under GST \u00a0 law e.g. petroleum, Natural Gas, Alcohol etc.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">-Also where the person is having inter-state dealing of goods he cannot opt for composition scheme.<\/span><\/td>\n<\/tr>\n<tr>\n<td>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">E-Commerce Operator<\/span><\/li>\n<\/ul>\n<\/td>\n<td><span style=\"font-weight: 400;\">An E-commerce operator who is required to collect tax at source under CGST Act.<\/span><\/td>\n<\/tr>\n<tr>\n<td>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Person manufacturing specific goods<\/span><\/li>\n<\/ul>\n<\/td>\n<td><span style=\"font-weight: 400;\">Any person manufacturing specific goods like- ice cream, pan masala, tobacco and its substitutes.<\/span><\/td>\n<\/tr>\n<tr>\n<td>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Based on goods lying in stock on option date<\/span><\/li>\n<\/ul>\n<\/td>\n<td><span style=\"font-weight: 400;\">The goods held in stock on the appointed date must not be on account of interstate trade or commerce or import or must not be received from his branch or agent or principal outside the state where the option is exercised<\/span><\/td>\n<\/tr>\n<tr>\n<td>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Liable under RCM<\/span><\/li>\n<\/ul>\n<\/td>\n<td><span id=\"Rates\" style=\"font-weight: 400;\">A person is still liable to pay tax under RCM on inward supplies.<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2 style=\"text-align: justify;\"><b>Rates of Tax under Composition Levy Scheme<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The rates of taxes under Composition Levy Scheme are-<\/span><\/p>\n<table>\n<tbody>\n<tr>\n<td><b>Category of Registered Person<\/b><\/td>\n<td><b>Rate of Tax<\/b><\/td>\n<\/tr>\n<tr>\n<td>\n<ul>\n<li><span style=\"font-weight: 400;\">Manufacturer of goods, other than mentioned in Pt.6 above<\/span><\/li>\n<\/ul>\n<\/td>\n<td><span style=\"font-weight: 400;\">1% (0.5% CGST+0.5% SGST) on the basis of\u00a0 turnover in a state or UT<\/span><\/td>\n<\/tr>\n<tr>\n<td>\n<ul>\n<li><span style=\"font-weight: 400;\">Supplier of restaurant services<\/span><\/li>\n<\/ul>\n<\/td>\n<td><span style=\"font-weight: 400;\">5% (2.5% CGST+2.5% SGST) on the basis of turnover in a state or UT.<\/span><\/td>\n<\/tr>\n<tr>\n<td>\n<ul>\n<li><span style=\"font-weight: 400;\">Any other eligible persons (e.g. Traders)<\/span><\/li>\n<\/ul>\n<\/td>\n<td><span style=\"font-weight: 400;\">1% (0.5% CGST+0.5% SGST) on the basis of\u00a0 turnover in a state or UT<\/span><\/td>\n<\/tr>\n<tr>\n<td>\n<ul>\n<li><span style=\"font-weight: 400;\">Supplier of services other than restaurant services<\/span><\/li>\n<\/ul>\n<\/td>\n<td><span style=\"font-weight: 400;\">Turnover limit \u2013Rs.50 lakhs in this case. Rate of tax is-<\/span><\/p>\n<p><span id=\"Conditions\" style=\"font-weight: 400;\">6% (3% CGST+3% SGST) of the turnover of supplies of goods and services in the state or UT &gt;.<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2 style=\"text-align: justify;\"><b>Conditions to be fulfilled by dealer registered under Composition Scheme<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">A person opting for levy of GST under Composition Levy Scheme has to fulfil following conditions-<\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Such person is not allowed to issue taxable invoice. The words \u201cComposition taxable person, not eligible to collect tax on supplies\u201d should be written on top of every bill.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">He cannot claim input tax credit on purchases.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The words \u201ccomposition taxable person\u201d should be there on every notice board or sign board displayed at the prominent place at his every place of business.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The person should not fall under any condition above that makes him ineligible to avail the scheme.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">If the person becomes ineligible, than he should withdraw from the scheme. Withdrawal from the scheme should be intimated to GST Department under prescribed form.<\/span><\/li>\n<li id=\"Consequences\" style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The person need not to fill up the form and give it every year. As long as he is eligible to avail the scheme he can continue to do so.<\/span><\/li>\n<\/ul>\n<h2 style=\"text-align: justify;\"><b>Consequences for availing the scheme wrongly<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">As per law only people whose turnover falls in the specified category are allowed to avail the Composition Levy Scheme under GST. In addition to that person should not be disqualified under any of the conditions specified above.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">However, if a person avails the benefit of scheme wrongly then, he will be issued a show cause notice from a competent authority. The show cause notice will be issued in form CMP-05. The notice should be replied in 15 days. The officer has to issue order within 30 days from the date of reply under CMP-07.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Thereafter, if a person has received denial order than he has to furnish details of all the goods held in stock on the common portal within 30 days of the denial order.<\/span><\/p>\n<p style=\"text-align: justify;\"><span id=\"Withdrawal\" style=\"font-weight: 400;\">The tax and penalty will be levied on the defaulter after following all the necessary procedures.<\/span><\/p>\n<h2 style=\"text-align: justify;\"><b>Withdrawal from Composition Levy Scheme in GST<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">As we know that a person registered under Composition Levy Scheme is not allowed to avail input on purchases and feels at loss due to same. Also there may be case where he is rendered ineligible under any condition. In both the cases person needs to withdraw from the scheme.<\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The person has to file an intimation in form GST CMP-04 on the GST portal. In case of ineligibility it should be done within 7 days from the date of ineligibility.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Details of stock held on the date of opting withdrawal or ineligibility as the case may be should be filed under form GST ITC-01 on the portal. It should be filed within 30 days of withdrawal.<\/span><\/li>\n<\/ul>\n<p id=\"Conclusion\" style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Following these submissions, the taxable person will have to pay as a normal tax payer. Also he will be allowed to avail tax credit for the goods held in stock on the date of withdrawal.<\/span><\/p>\n<h2 style=\"text-align: justify;\"><b>Conclusion<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Just like every other thing composition scheme also comes with its shares of pros and cons. It gives a relaxation from following various procedures under GST as we need to file only quarterly return. The tax computation is also relatively simple as its flat rate on turnover. However, it also renders the person ineligible to claim inputs and puts him out of the tax chain. The Composition Levy Scheme under GST is an option given to small traders and manufacturers so as to save time and money required for compliances. Obviously the choice depends on the nature and quantum of business.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>GST regime has borrowed various concepts from erstwhile Service Tax. Composition Scheme is one such concept. Keeping in view the [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":18282,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[71],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Levy under GST Composition Scheme - Goyal Mangal &amp; 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