GST composition scheme: Does it work for you?

The  GST law  provides for registration of a business either as a regular taxpayer or as a composition taxpayer. Businesses need to declare their scheme selection to the government for each financial year before the beginning of the said year. Accordingly, for financial year 2022–23, the said selection has to be made by businesses by 31 March 2022. Once a scheme is selected, the taxpayer…