Composition scheme in GST.

New Delhi, December 2, (way2news2tv.in):The central government is preparing major changes in the Composition Scheme in GST. It has decided to increase the maximum limit for this scheme, compatible with small retailers. The maximum limit for the current turnover is Rs 2 crore per annum. The GSTC Council has formally decided to increase the maximum limit after the Parliament's approval in two stages. A systematic scheme has been introduced to provide relief for small traders in the GST system. Its purpose is to reduce tax burden on small and medium-sized merchants and not require repeated filing of returns. However, merchants who do not have to pay taxes from customers. The annual turnover should be within a maximum of Rs. Whether to join or not, is left to the likes of merchants. The GST, which came into force from July 1, was not initially interested in the small traders. But the situation has changed since the awareness programs have been done. Recently the division of GST among the Central Excise and State Commerce Department in AP has been split. Accordingly, around 1.60 lakh people have joined the processing plan. The GST National Council recognizes the positive expression of the scheme. Increasing the maximum limit would be that more small traders would join the scheme. The GST Act in Parliament does not make it possible. The annuity turnover was maximized by the traders within Rs. To increase the limit, the Parliament should revise again. On July 10, the GST national council discussed the issue. The annuity turnover is now Rs. GST approved the GST Council resolution seeking the Union Government to amend it. The GSTC Council hopes to implement a two-phase project after Parliament is increased from Rs. In the first phase, the maximum limit was to be raised to Rs.1.50 crore. After reviewing the situation a year later, it is expected to increase the limit to Rs 2 crore in the second phase if the positive response is expected from the merchants. Central GST and State Commerce Department also provided information on this. Changes in the software suggested that other arrangements should be made in advance.