Is there any scheme for payment of taxes under GST for small traders and manufacturers?

Yes. Composition levy is an alternative method of
levy of tax designed for small taxpayers whose turnover is
up to Rs. 75 lakhs (Rs.50 lakhs for special category States,
excluding J&K and Uttrakhand). It is a kind of turnover tax. The
objective of the scheme is to provide a simplified tax payment
regime for the small tax payers. The scheme is optional and
is mainly for small traders, manufacturers and restaurants.