Quick Summary
Composition Scheme allows small taxpayers to pay GST at fixed rates without claiming ITC.
Available for turnover up to ₹1.5 crore (₹75 lakh for special states). Tax rates: 1% for manufacturers/traders, 5% for restaurants, 6% for services. Cannot claim ITC or make interstate supplies.
Key Points
- Turnover ≤ ₹1.5 crore
- Lower tax rates
- No ITC available
- No interstate supplies
- Quarterly return