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composition levy

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Want to Register under Composition Scheme in GST? Check your Eligibility

Businesses have to balance between managing their business and strive towards profitable venture. At the same time, caution and care is required towards compliance to various laws of the land. Over the past decade, with compliance in our country, though have taken the technology route, the amount of information to be furnished has increased. This naturally calls for dedicated time on the compliance front as they have a periodic deadline. India is predominantly an SME oriented business environment. This transpires to limitation of resources of 3M: men, money and materials, and an elaborate compliance will be a costly affair for small segment of businesses. The process of maintaining numerous records, monthly payments, filing of monthly return, and so on, is […]

By |2021-07-02T11:09:08+00:00July 20th, 2017|composite supply, composition dealer, composition levy, composition scheme gst, Form GST CMP-1, Form GST CMP-2, goods and services tax, GST, gst composition registration, gst composition rules, gst composition scheme|Comments Off on Want to Register under Composition Scheme in GST? Check your Eligibility

Moving to GST: Composition Dealer Switching to Regular Dealer

All registered taxable persons under the existing indirect tax regime will be automatically transitioned to GST and will be given a provisional registration ID. After validation of the details submitted during enrolment, final registration IDs will be issued. Similarly, those traders, who have opted for composition levy, will be auto transitioned to GST. Under GST, a registered taxable person whose aggregate turnover does not excess Rupees 50 lakhs during the financial year can opt for composition levy. This again is subject to certain conditions. Accordingly, on transition to GST, a Composition Dealer may switch over as a Regular Dealer. On switching from being a Composition Dealer to a Regular Dealer under GST, you will be adhering to the compliance requirements […]

By |2021-07-22T08:06:41+00:00March 31st, 2017|composition levy, goods and services tax, GST, regular dealer gst|Comments Off on Moving to GST: Composition Dealer Switching to Regular Dealer

GST Composition Levy Explained

  The current state indirect tax regime has provided a simpler compliance for small dealers known as the Composition Scheme. Under this scheme you, Pay taxes only at a certain percentage of turnover File periodic returns only (usually on a quarterly basis) Have an option of not having to maintain detailed records or follow tax invoicing rules Are not allowed to take Input Tax Credit (ITC) Are not allowed to collect tax on sales Thus for smaller businesses, it is simpler to calculate tax liability. This saves time and energy involved in maintaining detailed records. Let us understand how the composition scheme is different with the following example: Composition Levy in the GST Regime Similarly, the same benefit is provided […]

By |2019-11-25T06:18:51+00:00October 28th, 2016|composition levy, GST, Tax|Comments Off on GST Composition Levy Explained

PowerPacks FAQ

A PowerPack is a powerful widget built on top of the Tally platform. It adds value to your business by simplifying key, daily activities that may currently be done manually. A good example is Digital Signature – replace the need for physically signing (or even printing out!) By automatically inserting a digital signature on your entire Tally generated invoices. Saves you a ton of time, saves printing costs and also saves the environment since you print less!
Good Question! Our team is continually improving these PowerPacks. By adopting a subscription model, it allows our team to invest time to continually improve them. In addition, when the Tally platform is upgraded, your PowerPack will always work. Current offerings in the market sell you a ‘perpetual’ file and then charge you exorbitant upgrade fees when a new version comes out. We eliminate all of that and charge you a low fee. Think of it as sacrificing a couple of cups of coffees per year! Surely you can sacrifice 2 cups of coffee for improved productivity at work, right?
No problem! We understand that our customers’ needs evolve over time, and you may not need a certain PowerPack after a certain period of time. If you cancel within 7 days of purchasing the PowerPack, we will refund your money within 3 business days – no questions asked! If you’ve purchased an annual license, you can simply cancel your subscription and your license copy will lapse after your subscription period ends. No surprise charges. EVER!
Come on! You must be joking. Ok, you’re not. Well, the answer, surprisingly, is YES! If you purchase a PowerPack for the whole year, you can get it for only INR 999/year! That is a 15% discount or almost 2 months free 🙂 Happy now?

We’ve designed our PowerPacks to be self-serve and easy to install and use. We also provide you with a user manual and feature list with screenshots to get you started. But if you still have questions, drop us an email at [email protected] and we’ll help you out! If you need more hands-on support, just give us a call or drop an email.

Absolutely! We will continue to build the PowerPacks that serve our customers at an affordable price. We notify our customers when a new PowerPack is available. Meanwhile, if you need something very unique to your business, we have a top-notch development team that is eager to solve complex problems for businesses like yours. Fill out this form, we’ll get in touch with you!
Good question again! Other vendors may offer you a PowerPack (add-on/module) for a flat one-time fee. But what they don’t tell you is that anytime there is a release upgrade or newer version of Tally, the PowerPack will stop working. To get it to work again, you will need to pay the vendor more money. This cycle is never-ending! In addition, other vendors may not update their PowerPacks with additional features. If they do, they may charge you extra for the same. With Mark IT, your PowerPack will always work even if there is a release update. The subscription model also allows us to continually enhance our PowerPacks and pass on the benefits to our customers at no extra cost. Plus, you save a ton of money upfront which you can use for other business improvements!
You can choose between a number of payment types – NEFT, credit or debit card, UPI, EMI or any wallet (like PayTM, PhonePe etc.) Providing flexibility to our customers is important to us, so we ensure to continually add the latest payment methods.
We’re glad you want to! Simply add multiple PowerPacks to your cart and buy! In addition, if you wish to purchase additional PowerPacks for additional serial numbers, simply change the quantity to the appropriate number of serial numbers and you are set. Feel free to add any comments in the Notes section if there is something you need to tell us regarding your order. Trust us, we read every customer’s emails!
A PowerPack is compiled and attached to a single serial number. If you’d like to set up the PowerPack for multiple serial numbers, simply purchase additional PowerPacks for each of your serial numbers. Simple!

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