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GST Composition Scheme Challenge

Yes or No

Test your knowledge of the GST Composition Scheme by determining which are applicable under this tax regime. Answer with yes or no.

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GST Composition Scheme ChallengeOnline version

Test your knowledge of the GST Composition Scheme by determining which are applicable under this tax regime. Answer with yes or no.

by saitrade mark
1

Under the GST Composition Scheme, businesses have to file quarterly returns.

2

If a business registered under the Composition Scheme exceeds the turnover limit it can continue under the same scheme.

3

The GST Composition Scheme can be opted by a non-resident taxable person.

4

The tax rate for manufacturers under the Composition Scheme is 1% only

5

Two returns have to be filed, one to report sales and another to pay tax under the composition scheme.

6

The GST Composition Scheme allows businesses registered under the scheme to pay tax at a lower rate.

7

Businesses with a turnover of up to ₹2 crore can opt for composition scheme

8

The GST Composition Scheme is mandatory for all businesses.

9

The due date to file annual return under composition scheme is on 30th April after the end of the financial year?

10

Businesses under the GST Composition Scheme can collect GST from customers.

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