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of <h1>Small taxpayers with up to Rs. 50 lakhs turnover can opt for GST composition scheme; pay 1% CGST and SGST.</h1> Small taxpayers with an annual aggregate turnover of up to Rs. 50 lakhs are eligible for the GST composition scheme, which allows them to pay tax as a percentage of their turnover without claiming Input Tax Credit (ITC). The minimum tax rate for both Central GST (CGST) and State GST (SGST) is set at 1%. Taxpayers under this scheme cannot collect tax from customers and are ineligible if they make interstate supplies or pay tax on a reverse charge basis.
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