5 lakh businesses opt for composition scheme under GST: Adhia
GST
Dated:- 31-7-2017
New Delhi, Jul 31 (PTI) Five lakh businesses have opted for the GST composition scheme, which allows them to pay taxes at a concessional rate and makes compliance easy, the government said today.
Nearly 71 lakh excise, service tax and VAT assessees have migrated to the GST Network (GSTN) till July 25. Besides, another 12 lakh new registrations came about under the Goods and Services Tax (GST) regime.
"The figure of dealers opting for composition in GST is 5.12 lakh up to 30th (July). The last date for opting is August 16," Revenue Secretary Hasmukh Adhia tweeted.
The composition scheme is an alternative method of levy of tax design
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