Government May Reopen Composition Scheme Window For Small Businesses

The government is considering to re-open the composition scheme window that allows small taxpayers to pay levies at a lower rate by foregoing the benefit of input tax credit under the Goods and Services Tax, a senior government official told BloombergQuint. The proposal is likely to be tabled in GST Council’s next meeting on September 9, the official said requesting anonymity. According to the sch…