TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Section 8 GST Law: Composition Levy Offers Reduced Tax Rate for Small Businesses, Restrictions Apply on Eligibility and Penalties.</h1> Section 8 of the Model GST Law, 2016, introduces a composition levy allowing registered taxable persons with an annual turnover not exceeding fifty lakh rupees to pay a reduced tax rate, not less than one percent, instead of the standard tax. This option is unavailable to those making inter-State supplies or if all associated taxable persons under the same PAN do not opt for it. Eligible persons cannot collect tax from recipients or claim input tax credit. If ineligible persons opt for this levy, they face penalties equal to the tax due, following a notice and hearing process.
TaxTMI 
TaxTMI 
