GST Composition Scheme ChallengeVersión en línea Test your knowledge of the GST Composition Scheme by determining which are applicable under this tax regime. Answer with yes or no. por saitrade mark 1 Businesses with a turnover of up to ₹2 crore can opt for composition scheme Yes No 2 Businesses under the GST Composition Scheme can collect GST from customers. Yes No 3 The GST Composition Scheme is mandatory for all businesses. Yes No 4 The GST Composition Scheme allows businesses registered under the scheme to pay tax at a lower rate. Yes No 5 Two returns have to be filed, one to report sales and another to pay tax under the composition scheme. Yes No 6 The tax rate for manufacturers under the Composition Scheme is 1% only Yes No 7 If a business registered under the Composition Scheme exceeds the turnover limit it can continue under the same scheme. Yes No 8 The GST Composition Scheme can be opted by a non-resident taxable person. Yes No 9 Under the GST Composition Scheme, businesses have to file quarterly returns. Yes No 10 The due date to file annual return under composition scheme is on 30th April after the end of the financial year? Yes No
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