Govt of India has made significant changes in Composition Scheme under GST to give major relief to SME Sector and small business With effect from 01.01.2018.
Recently there was a major change in Composition Scheme which was beneficial to both traders and manufactures. Manufactures are treated at par with traders. And liability of tax also reduced on traders.
Detailed discussion on this topic is available along with notification in the video available here.
Click on the below video for complete understanding of the scheme –
As per amendment act now a composition dealer is allowed to supply services to certain extent so what will be rate applicable on supply of such services? how to calculate the tax payable on such services?