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of <h1>Section 10 composition scheme: small taxpayers under ?50 lakh may opt for capped-rate tax with eligibility limits and restrictions</h1> A registered person with aggregate turnover in the preceding financial year not exceeding fifty lakh rupees may opt for a composition scheme to pay tax at prescribed rates (capped for manufacturers, certain suppliers, and others), subject to conditions and increased turnover thresholds by government notification; limited supplies of services are permitted. Eligibility excludes specified suppliers, inter-state supplies, supplies via e-commerce operators required to collect tax, notified manufacturers, casual or non-resident taxable persons, and cases sharing the same PAN unless all opt in. The option lapses if turnover exceeds the threshold; composition dealers cannot collect tax or claim input tax credit and face tax determination and penalties if ineligible.
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