Question 23 – Draft-Bills-Reports – Overview of Goods and Services Tax (GST) – FAQ on GST (2nd Edition) dated 31.3.2017 – Question 23 – Q 23. What is the scope of composition scheme under GST? Ans. Small taxpayers with an aggregate turnover in a preceding 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 in a state during the year without the benefit of ITC. The floor rate of tax for CGST and SG
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