Question 23 – Draft-Bills-Reports – Overview of Goods and Services Tax (GST) – FAQ on GST dated 21.9.2016 based on Draft Model GST – Question 23 – Q 23. What is the scope of composition scheme under GST? Ans. 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 n
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