Simplifying the tax payment system for the small businessmen, the commercial tax department of the Chhattisgarh government has provided ‘composition’ facilities to them from April 1, 2013. According the Commercial Tax commissioner RS Vishwakarma, under this scheme, the businessman has to pay a fixed fee of the taxable sale, in place of item-wise weight. The rate of composition fee will be 0.25 per cent on the total turnover minus the non-taxable sale i.e 25 paise per Rs 100 of sale.
Under the scheme, it will not be compulsory for the small businessman to keep accounts books and the will be relieved from filing quarterly sale proceeds and tax fixation and there would be no need of the services of tax advisor.