GST Composition Scheme: Who Can Opt, The Rates Applicable And More

Are you a trader, manufacturer or restaurant owner? Under GST or goods and services tax, the new indirect tax regime, you are not required to register or pay tax if your annual turnover is below Rs 20 lakh. This has been said by the Central Board of Excise and Customs on multiple platforms. This limit is Rs 10 lakh for Assam, Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Tripura, Sikki…