The composition scheme is an alternative method of payment of tax by small taxpayers whose turnover is up to Rs. 1.5 crore (Rs. 75 lakhs in case of few specified states). Service providers may also opt for composition scheme where his total turnover limit is upto Rs. 50 lakhs. Such person is required to pay tax on quarterly basis in a challan-cum-statement (Form CMP-08) and file an annual return in Form GSTR-4.