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What is GST? How does it work? What is the difference between the regular and the composition scheme of GST?
What is GST? How does it work? What is the difference between the regular and the composition scheme of GST?
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Subin VR, Chartered Accountant,FCA, DISA (ICAI) 
Answered on March 13,2021
In regular scheme you can collect GST, take Input Tax Credit and have to make monthly payment of GST. In composition you cant collect GST, cant take Input and shall file returns quarterly.
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