Traders & composition levy

Is there any scheme for payment of taxes under GST for small traders?

Ans: Yes, there are schemes for payment of GST for small businesses. Composition levy is a tax levy mechanism designed for small businesses/taxpayers with a turnover of up to 1.5 crore now (Rs. 75 lakhs now for special category States). The primary goal is to make compliance easier and less expensive for small taxpayers. However, the scheme is voluntary and aims mostly at small businesses, manufacturers, and eateries.

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