How do I enable and configure GST settings in Zoho Checkout?
- Click the Settings icon , and select Taxes.
- Under Taxes, click GST Settings.
- Check the option ‘Are you registered for GST?’.
- Enter your 15-digit GSTIN.
- Check the Composition Scheme option if you are a small business owner with an annual turnover less that ₹75 lakhs.
- Composition Scheme percentage is 1% for traders, 2% for manufactures and 5% for restaurants.
- The composition scheme is only applicable to business that sell goods and not applicable for service providers. It also does not apply to interstate transactions and you cannot claim input tax credit.
- Click Save for the changes to take effect.