Composition scheme eligibility: small taxpayers may pay tax as a turnover percentage without ITC, with exclusions for inter state and e commerce supplies. Small taxpayers below the notified aggregate turnover threshold may opt for composition levy and pay tax as a percentage of turnover in a State without input tax credit; floor rates apply, composition taxpayers may not collect tax from customers, and taxpayers making inter state supplies or supplying through e commerce operators required to collect tax at source are ineligible.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Composition scheme eligibility: small taxpayers may pay tax as a turnover percentage without ITC, with exclusions for inter state and e commerce supplies.
Small taxpayers below the notified aggregate turnover threshold may opt for composition levy and pay tax as a percentage of turnover in a State without input tax credit; floor rates apply, composition taxpayers may not collect tax from customers, and taxpayers making inter state supplies or supplying through e commerce operators required to collect tax at source are ineligible.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
