Who can opt for the GST composition scheme and what are the turnover limits?

The composition scheme is open to registered taxpayers with an aggregate turnover up to Rs 1.5 crore in the previous financial year (Rs 75 lakh in some special category states) for supplying goods, and up to Rs 50 lakh for those supplying services or a mix of goods and services. Under it you pay tax at a small flat percentage of turnover instead of regular GST rates.

The catch: you cannot collect GST from customers, cannot claim input tax credit, and generally cannot make inter-state supplies or supply through e-commerce operators. Check the current conditions and rates on the GST portal, and confirm with your CA whether it suits your business.