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    What is Composition Levy scheme?

    Answered 05-Aug-2022

    To reduce compliance burdens and facilitate ease of business for small taxpayers, Composition Levy has been introduced by the GST law. Under this scheme, a taxpayer is required to file quarterly returns and pay a specified percentage of turnover as tax to the government, instead of paying tax on every invoice. As per the GST law, a taxpayer whose turnover does not exceed Rs. 1.5 crores (and Rs. 75 lakhs in special category states except Jammu & Kashmir and Uttarakhand) is eligible to opt for this scheme.

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