The GST Composition Scheme is merely a revision of the already existing composition Law under VAT. Goods and Services Tax (GST) has already been implemented for all individuals, small & large businesses in India.
While big organizations have enough resources and expertise to implement the new tax regime, the small companies and startups, on the other end, may struggle to understand and comply with the new provisions. Therefore, the government has introduced a composite scheme to resolve such issues.
