Turnover and tax pay limit applicable for composite dealer

As per Section 10 of CGST Act 2017, the registered person whose aggregate turnover during preceding financial year doesn't exceeds the 1 crore (75 lakhs as the case may be) may opt to pay tax at 1% (CGST+SGST) of taxable turnover of state in case of trader.

The provisions of section 10 doesn't provide explicitly any minimum or maximum amount of Tax to be paid. However the wording makes it clear that there is no minimum limit for turnover or tax but maximum limit for turnover is 1 crore (or 75 lacs as the case may be). Hence the maximum amount of tax is 1,00,000 (i.e. 1% of 1 crore) in case of trader.