Composition scheme: eligible small taxpayers may opt to pay fixed turnover-based state tax rates in lieu of regular liability; certain goods excluded. The notification prescribes a composition scheme under the Odisha GST Act permitting an eligible registered person with limited aggregate turnover to pay a fixed amount on turnover in the State instead of regular State tax. It sets distinct turnover-based rates for manufacturers, specified supplies under Schedule II, and other suppliers, and excludes manufacturers of goods listed in the Table (ice cream and other edible ice, pan masala, and goods under the tobacco chapter) from opting into the scheme; tariff references follow the Customs Tariff Act interpretation rules.
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: eligible small taxpayers may opt to pay fixed turnover-based state tax rates in lieu of regular liability; certain goods excluded.
The notification prescribes a composition scheme under the Odisha GST Act permitting an eligible registered person with limited aggregate turnover to pay a fixed amount on turnover in the State instead of regular State tax. It sets distinct turnover-based rates for manufacturers, specified supplies under Schedule II, and other suppliers, and excludes manufacturers of goods listed in the Table (ice cream and other edible ice, pan masala, and goods under the tobacco chapter) from opting into the scheme; tariff references follow the Customs Tariff Act interpretation rules.
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 
