Minimum Composition Tax Rate confirmed for composition scheme under GST; establishes a fixed lower threshold for small taxpayers. Minimum rate of tax for a composition scheme under the Draft Model GST framework is prescribed as 1%, as stated in the GST FAQ dated 21.9.2016 addressing ... Summary
Minimum Composition Tax Rate confirmed for composition scheme under GST; establishes a fixed lower threshold for small taxpayers.
Minimum rate of tax for a composition scheme under the Draft Model GST framework is prescribed as 1%, as stated in the GST FAQ dated 21.9.2016 addressing levy of and exemption from tax and indicating the baseline tax rate applicable to taxpayers opting for the composition scheme.
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