GST Gives Big Relief to Small Traders/ Manufacturers/ Restaurants


Manufacturer/Service provider/Trader whose annual turnover is below Rs.20 Lakh* need not pay any GST and need not register.

Those with annual turnover upto Rs.75 Lakh# can opt for composition scheme in which case the tax rates will be as follows:-

  •  In service sector, Composition Scheme is available only for one sector-restaurants.

  •  The Composition scheme is not available for manufacturers of tobacco and manufactured tobacco substitutes, pan-masala & ice-cream and other edible ice, whether or not containing cocoa.

  •   The dealers who opt for composition scheme have to file only one quarterly return with details of total turnover. Invoice with details are not necessary, bill of supply will suffice.

  •   Small taxpayers are not required to give HSN code in their returns.

  •   However,in this option, no input tax credit can be taken or passed on.

  •   With online registration, return, payment,refund & other processes,delays and discretions would be reduced.

  •   Reduced compliance burden.

  •   Special dispensation for job-work to help job workers in the GST regime.

* This limit is Rs 10 Lakh for Assam, Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Tripura,
Sikkim, Uttarakhand and Himachal Pradesh.

# This limit is Rs 50 Lakh for Assam, Arunachal Pradesh, Manipur,Meghalaya, Mizoram,Nagaland,Tripura,
Sikkim, Uttarakhand and Himachal Pradesh.


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