The GST Network (GSTN) has reopened composition scheme window facility for small taxpayers with turnover of up to Rs.75 lakh to opt for composition scheme, which offers easy compliance for business as returns are to be filed only quarterly. The window will be open for those taxpayers who have migrated from earlier excise, service tax or VAT regime as well as for the newly registered taxpayers.
Earlier, small taxpayers were given time deadline of August 2017 to opt for composition scheme. But, only 10.86 lakh taxpayers, out of total 85 lakh registered businesses had opted for the scheme.
