What is the composition scheme? What are the benefits for small dealers?
If the taxable quantum of a dealer does not exceed Rs. 25 lakhs in a year, and the dealer does not import or export goods or makes inter-State sales or purchases goods from an unregistered dealer, the dealer can opt for the composition scheme. Under this scheme, he needs to pay only 1 per cent of the taxable turnover and he need not maintain detailed accounts.
