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of <h1>Small Businesses Benefit from GST Composition Scheme with Concessional Tax Rates for Eligible Suppliers and Service Providers</h1> The Composition Scheme under GST allows small taxpayers to pay tax at concessional rates. Suppliers of goods can pay 1% on turnover, while restaurant service providers pay 5%. Eligibility is for those with a turnover up to 1.5 crore (75 lakh for certain special category states). Mixed suppliers with marginal goods supply can also benefit. Service providers, excluding restaurants, with turnover up to 50 lakh, can opt to pay 6%. Suppliers can provide services up to 10% of their turnover or 5 lakh, whichever is higher, under this scheme.
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