Question

What are the advantage of composition?

Answer 1

Answer:

Following are the merits of opting for the GST composition scheme: Businesses enjoy higher liquidity since a lower amount of GST has to be paid to the government. Businesses enjoy lesser compliance (maintaining records, filing returns, issuance of invoices, and so on) under this scheme.

Explanation:

Answer 2

Answer:

Explanation:

Advantages of Composition Scheme under GST

Registering as a composite dealer under GST has the following benefits: High liquidity as the business will have to pay less GST and therefore have more funds in ready circulation for investment or operational purposes. Lower GST payments as compared to regular dealers