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<h1>Composition scheme: option lapses when aggregate turnover in a financial year exceeds the prescribed threshold; composition ceases immediately.</h1> If a person who has opted for the composition scheme has aggregate turnover during the financial year that exceeds the prescribed threshold, the option to pay tax under the composition scheme lapses from the day on which the aggregate turnover exceeds that threshold and the taxpayer ceases to be eligible to remain under composition for the remainder of the financial year.