Composition scheme: state tax payable at prescribed rate for eligible small suppliers subject to exclusions, invoice and compliance conditions. Composition scheme permits registered persons within the aggregate turnover threshold to pay state tax at the notified rate subject to specified eligibility conditions, prohibition on collecting tax from recipients, ineligibility for input tax credit, requirement to issue a bill of supply with prescribed wording, applicability to all outward supplies notwithstanding other notifications, liability on inward supplies as per the Act, exclusion of certain goods by tariff description, and exclusion of interest or discount on exempt financial services from aggregate turnover computation; effective from the commencement date.