Tepid response to 'easy GST'; only 100,000 SMEs opt for composition scheme

Composition scheme provides easy compliance, flat rate for small businesses

A scheme under the goods and services tax (GST) that provides easy compliance and a flat rate to small businesses has had a muted response so far.

The new indirect tax regime was rolled out on July 1. Till now, of the 8 million registrations on the GST Network (GSTN), only 100,000 or 1.25 per cent have opted for the composition scheme. 

The deadline for choosing this scheme is Friday. This is likely to be extended. 

Entities with an annual turnover of up to Rs 75 lakh are eligible to apply for the scheme, under which they are allowed to