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of <h1>Amendment to Section 10: Exempt Service Values Excluded from Turnover; New Tax Rate Option for Low Turnover Businesses.</h1> Section 10 of the Central Goods and Services Tax Act is amended to include an explanation that the value of exempt supply of services, such as interest or discounts from deposits, loans, or advances, is excluded from turnover calculations. New provisions allow registered persons with a turnover not exceeding fifty lakh rupees to opt for a tax rate not exceeding three percent, subject to conditions. These include not engaging in non-taxable supplies, inter-State supplies, or supplies through e-commerce operators, and not being casual or non-resident taxable persons. Additional explanations clarify turnover calculations for tax eligibility and liability purposes.
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