ICAI Releases Third Edition of Handbook on Composition Scheme Under GST

The Institute of Chartered Accountants of India (ICAI) recently shared a handbook called “Composition Scheme Under GST”.

This is the third edition of this handbook. The first edition was released in August 2020, and the second was released in August 2022.

Over time, the rules and procedures related to the Composition Scheme under GST have changed a lot. Because of these changes, businesses and professionals need clear and updated information to follow the rules correctly. So, the GST & Indirect Taxes Committee of ICAI has updated its handbook on the Composition Scheme to include the latest law changes, government notifications, circulars, and court decisions.

This handbook explains the scheme in a complete and practical way. It covers who can apply, how the process works, the rules you need to follow, the limits involved, and important points that may need interpretation. With examples, practical tips, and explanations of the relevant provisions, it serves as a handy reference guide for professionals as well as other interested people.

This handbook contains 14 chapters, starting from the introduction to the composition scheme, the person liable for registration in GST and more.