What is the scope of composition scheme under GST?


Small  taxpayers  with  an  aggregate  turnover  in   a financial year up to [Rs. 50 lakhs] shall be eligible for composition levy. Under the scheme, a  taxpayer  shall  pay tax as a percentage of his turnover during the year without the benefit of ITC. The floor rate of tax for CGST and SGST shall not be less than [1%]. A tax payer opting for composition levy shall not collect any tax from his customers. Tax payers making inter- state supplies or paying tax on reverse charge basis shall not be eligible for composition scheme.


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