Composition levy eligibility: prescribed turnover threshold allows simplified state tax rates for manufacturers, specified suppliers and other suppliers. Composition Levy is available to eligible registered persons below the prescribed turnover threshold, permitting payment of a specified percentage of turnover in lieu of State tax with differentiated rates for manufacturers, suppliers under clause (b) of paragraph 6 of Schedule II, and other suppliers; manufacturers of ice cream, pan masala and goods under Chapter 24 (tobacco and substitutes) are excluded, and tariff interpretation follows the First Schedule to the Customs Tariff Act, 1975.
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Composition levy eligibility: prescribed turnover threshold allows simplified state tax rates for manufacturers, specified suppliers and other suppliers.
Composition Levy is available to eligible registered persons below the prescribed turnover threshold, permitting payment of a specified percentage of turnover in lieu of State tax with differentiated rates for manufacturers, suppliers under clause (b) of paragraph 6 of Schedule II, and other suppliers; manufacturers of ice cream, pan masala and goods under Chapter 24 (tobacco and substitutes) are excluded, and tariff interpretation follows the First Schedule to the Customs Tariff Act, 1975.
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