Composition Scheme Rules and Direct Tax Turnover Approach

Posted on 11 June 2022 Category : GST terms difference

How to differentiate Direct Tax Turnover Approach with Composition Scheme Rules?

What is Direct Tax Turnover Approach? How does Composition Scheme Rules work under GST regime? What are the difference between Direct Tax Turnover Approach and Composition Scheme Rules?

Under GST system, the following information explains about Direct Tax Turnover Approach and Composition Scheme Rules.

As per GST terms, Direct Tax Turnover Approach means a third approach—which was described in the Thirteenth Finance Commission--is based on using income tax data which are available for about 94.3 lakh registered entities (including companies, partnerships, and proprietorships but not charitable organizations). Composition Scheme Rules under GST provide for all the procedural compliance w.r.t. intimation for Composition Scheme, effective date for levy, conditions and restrictions on levy, validity of levy and rate of tax.

The details about Direct Tax Turnover Approach and Composition Scheme Rules with simple language from GST terms have been mentioned in this web blog separately. I suggest you to read these articles on Direct Tax Turnover Approach and Composition Scheme Rules, so as to enable you to have a clear idea on these GST terms.

For your immediate reference, we give below web links on Direct Tax Turnover Approach and Composition Scheme Rules separately below. You may kindly read the below links to know more about Composition Scheme Rules and Direct Tax Turnover Approach.

What is Direct Tax Turnover Approach under GST

Composition Scheme Rules under GST

The above information easily explains about Composition Scheme Rules and Direct Tax Turnover Approach.

I hope, you have satisfied with the difference between Direct Tax Turnover Approach and Composition Scheme Rules explained above. Do you have different thought on difference between Composition Scheme Rules and Direct Tax Turnover Approach?

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