What is Composition Firm and Regular Firms

Hello & Welcome Again to my website TallyClass.com & Lets Begin the next chapter of my Full GST course – Difference Between Composition & Regular Firms. jisme ham what is composition firm & What is regular firm ko samjhenge

Chapter 8 : What is Composition Firm and Regular Firms

GST me Firm ko 2 Tarah Se Registered Kiya Ja Sakta hai.

  1. Composition Firm
  2. Regular Firm

Composition & Regular Firms

Ab In Dono Firm Me Kya Fark Hai Ye Jaante hai Di Gayi Index Ko Dekhe

Subject Composition Firms Regular Firms
Turnover Limit Agar kisi Firm Ki 1 Saal Ki Sale 1.5 Crore se Kam hai to Firm Ko Composition Me Registered Karwaya Ja Sakta hai. Agar kisi Firm Ki 1 Saal ki Sale 1.5 Crore Se Jyada Hai to Firm Ko Regular me Registered Karna Aniwarya hai.
Optional Registration Agar Firm Ki 1 Saal Ki Sale 1.5 Crore se kam hai To Propritor chahe to Regular me Bhi Registration Karwa Sakta Hai. Regular Ke Liye Koi Optional Registration Nahi Hai.Maanlo Kisi Ne Ye Sochke Composition me Firm Registered Karwai Ki Uski Sale 1.5 Crore se Kam Hogi aur 1.5 Crore Se Upar Chali Gai to Composition Firm Ko Regular Karwana Aniwarya hai.
GST Return Composition Firm ko Quarterly Return (3 Mahine me Ek Baar) Lagana Padta hai. Jise CMP08 Return Kehte hai. Regular Firm Ko Har Mahine 1 Return Lagana Padta hai Jise GSTR3B Return Kehte hai.
Applicable Of Tax Rates Composition Firm me Purchase Par Lagni Wali GST ki Input nahi Li Ja Sakti Aur Na Hi Sales Par GST Lagaya Ja Sakta Hai. Yaani Purchase Me Jo Tax Hamne Sarkar Ko Pay Kar Diya Usko Customer Se Bhi Wapas nahi Liya Ja Sakta Regular Firms Ko  input GST aur output GST ka Pura Record Rakhna Padta hai.Yaani Har Month Kitni Purchase Ki Aur Uspar Kitana Tax pay Kiya aur Har Mahine Kitni Sale Ki Aur Us Par Kitna Tax Collect Kiya.
Tax Liability Composition Firm har 3 mahine me jitna Sale karti hai Usko Return Ke Sath Sale ka 1% Tax pay Karna Padta hai. For Example 3 Mahine Me 250000 Rs. Ki Sale Hui To 250000 Rs. Ka 1% Yani 2500 Rs. Sarkar Ko Pay Karna Padta Hai. Regular Firm Me GSTR3B Return Ke According Agar Tax Payble Banta Hai To Tax Pay Karna hai Nahi Banta hai To Nahi Karna hai. For Example 1 Mahine me 1000 ki Purchase ki Jispar 500 Rs. Tax purchase ke sath hi paid kar diya. aur Usi Mahine 1200 Ki Sales Ki Jispar 700 Rs. Tax Customer Se Collect Kiya. Yaha Hamari Tax Liability Banti hai To Baki Ka Balance 700-500=200 Rs Tax Sarkar Ko Pay Karna Hai Aur yahi Maanlo Sale 800 Rs. hi Hui aur customer se tax 300 Rs. Hi Wasul Kiya to 200 Rs. Ab Bhi Sarkar Ke Paas Jama Rahenge.Tax Paid Karne Ki Jarurat Nahi
Example Of Entry Composition Firm Me Tally Me Purchase ya Sales Ki entry Karne Par SGST & CGST ya IGST nahi Lagaya Jata.Direct Tax Included Item Ki Value Daalkar Entry Kar Di Jati Hai. Regular Firm Me Tally me Purchase Ya Sales Ki Entry Karne Par Item Ki Taxable Value Alag Likhi Jati Hai Aur Us Par Lagne Wala Tax SGST & CGST ya IGST Lagaya Jayega.
Name Of Invoice Composition Firm me jo Bill Banta hai Use Bill Of Supply Kehte Hai.  Regular Firm Me Jo Bill Banta Hai Use Tax Invoice Kaha Jata Hai.
Advantage Composition Firm me Books Keeping Karna Easy Hai aur Quarterly Return Yani 3 Mahine Me Kewal 1 hi Return Lagana Padta Hai Regular Firm me Purchase Par Input Tax Liya Ja Sakta Hai Aur Sales Par Dusri Firm ko Tax Diya Ja Sakta hai. yani agar koi Customer Regular Firm Me Registered hai aur wo Input lene ke liye Invoice Maangle To Diya Ja Sakta hai.
DisAdvantage Agar koi Customer Regular Firm me Registered hai Aur Composition Firm wale Se input lene ke liye With Tax invoice Maangle To nahi Diya Ja Sakta. har Mahine Return Lagana Padta hai usme bhi tax mismatch ka pura dhyan rakhna padta hai books keeping me bhi savdhani baratni padti hai.

Composition Firm Ki Accounting Bahut hi aasan hai Regular firm ki accounting sikhne ke baad composition firm ki bhi accounting sikhaunga filhal ham Regular Firm Ki Accounting Sikhenge.

ummid karta hu ki aapko ache se samajh me aa gaya hoga. ham aage ke chapter me jo bhi sikhenge filhar Regular Firms ke According hi sikhenge.

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