Im running a retail medical store having turnover in between 50-52 lakhs per annum.According to GST rules, if turnover exceeds 50 lakhs- I will be in GST regular scheme.
I can't understand which one to choose between composite scheme and regular scheme.Apart from records compliance& work burden, which one is beneficial to me? If composite scheme is beneficial to me,I will slightly decrease my turnover to below 50 lakhs.Reducing turnover of 3 lakhs per annum is not a big deal for me. If regular scheme is beneficial to me, I will continue as it is. Plz help me.