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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>GST Act 2017: Small Businesses Can Opt for Simplified Tax with Composition Levy; Conditions and Limits Apply</h1> Under the Andhra Pradesh Goods and Services Tax Act, 2017, a registered person with an aggregate turnover not exceeding fifty lakh rupees in the previous financial year may opt for a composition levy, paying a percentage of turnover instead of the standard tax. Rates are set at one percent for manufacturers, two and a half percent for certain suppliers, and half a percent for other suppliers. Eligibility excludes those supplying services beyond specified exceptions, making inter-state supplies, or using e-commerce platforms. The option lapses if turnover exceeds the limit, and ineligible persons opting for it face penalties. The government may increase the turnover limit up to one crore rupees.
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