Composition Scheme, Return Filing and Payment for GST Registration

If in case your business unit has an annual turnover that is less than the amount of Rs 1 crore, then you can opt for something called a composition scheme. Then you will be filing a subsidized tax which ranges from 1% to 5% for a quarterly return. Each GST registration holder will require the filing of a 3 monthly or quarterly tax return and one annual tax return.