As per the GST Composition Scheme, the maximum turnover limit for a taxpayer to be eligible is 1.5 crores in a financial year.

Input tax credit is not a benefit of opting for the GST Composition Scheme. Under this scheme, taxpayers are not allowed to claim input tax credit on their purchases.

The rate of GST applicable under the Composition Scheme is 1% for manufacturers and 5% for traders.

Service providers are not eligible for the GST Composition Scheme. This scheme is only available to manufacturers and traders.

The due date for filing the annual return under the GST Composition Scheme is 31st March of the following financial year.

A taxpayer cannot opt for the GST Composition Scheme during the middle of a financial year. The option to choose this scheme is available only at the beginning of each financial year.

If a taxpayer's turnover exceeds the limit prescribed for the GST Composition Scheme during a financial year, the taxpayer will be disqualified from the scheme and will have to pay GST at the regular rates.

The GST registration certificate is the only document that is required to be submitted along with the application for opting into the GST Composition Scheme.

The penalty for not filing the annual return under the GST Composition Scheme includes both late filing fee and interest on the tax liability.

Taxpayers who have opted for the GST Composition Scheme are allowed to issue tax invoices. However, they are required to mention that the GST is being charged at the composition rate.

The maximum turnover limit for a service provider to be eligible for the GST Composition Scheme is 50 lakhs in a financial year.

Legal services are not eligible for the GST Composition Scheme.

The rate of GST applicable for restaurants under the Composition Scheme is 5%.

A taxpayer who has opted for the GST Composition Scheme for services cannot also provide goods. This is because the Composition Scheme is only available for either goods or services, not both.

The due date for filing the quarterly return under the GST Composition Scheme is 15th April of the following financial year.