|
Particulars
|
Normal Dealer
|
|
|
Registration
|
When the threshold limit of Rs. 20 lakh for all states or 10 lakh for NE and hill states has increased to Rs. 40 lakh or Rs. 20 lakh in 32nd GST Council meeting at New Delhi on 10th January 2019. registration required.
|
Registered person, if his turnover is below to Rs. 1.00 crore GST council has increased the threshold limit of annual turnover for Composition scheme raised to Rs 1.5 crore from Rs. 1 Crore w.e.f. 1st April 2019, can opt for Composition Scheme but in case of North-Eastern states and Himachal Pradesh, the limit is Rs 75 lakh.
|
|
Applicability
|
It is applicable for large assesses having turnover >Rs. 1.50 crore.
|
It is applicable for small assesses having turnover up to Rs. 1.50 crore.
|
|
Sales/Transfer
|
They can sales/transfer goods/services in one state to another state or within the same state.
|
They can sales/transfer goods/services only within the same state cannot make interstate sale
|
|
Rate of Tax
|
The rate of tax is higher.
|
The rate of tax is lower.
|
|
Input Credit availed
|
They can avail Input tax credit paid on purchase of goods.
|
They cannot take Input tax credit.
|
|
Period of Returns
|
They have to file 3 monthly returns and 1 annual return.
|
They have to file 1 quarterly return and 1 annual return. Businesses whose under GST Composition Scheme from April 1st 2019, has to file just one annual return, but pay taxes once every quarter.
|
|
Form of Returns
|
|
|
|
E-commerce
|
There is no restriction on sale of goods through E-commerce.
|
Not allowed such sale of goods through E-commerce.
|
|
|
Casual Taxable person should be compulsory registered.
|
Casual Taxable person cannot opt composition taxable scheme.
|
|
Invoice
|
They have to issue Tax Invoice.
|
They have to issue bill of supply instead of tax invoice.
|
|
Restriction on Export
|
There is no restriction on export of items.
|
Under this scheme the dealer cannot make export of items.
|
|
Restriction on some manufacturing units
|
There is no such restriction.
|
Manufacturer of ice cream, pan masala, or tobacco cannot opt composition scheme.
|
|
Restriction on operation of other units
|
There is no such restriction.
|
Under this scheme, if an establishment have in more than one state, all such units are required to opt composition scheme or normal tax payer scheme.
|
|
Maintenance of Tax Records
|
Mandatory to maintain detailed records.
|
Not mandatory to maintain detailed records.
|