Composition tax scheme rates set for small suppliers; manufacturers of ice cream, pan masala and tobacco excluded from eligibility. Notification prescribes a composition levy allowing an eligible registered person below the aggregate turnover threshold to pay prescribed percentage-based rates of turnover instead of State tax, with differentiated rates for manufacturers, certain Schedule II suppliers, and other suppliers; it excludes manufacturers of goods identified by Customs Tariff headings-ice cream and other edible ices, pan masala, and tobacco products-from opting for composition, and adopts Customs Tariff interpretation rules for identifying excluded goods.
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Provisions expressly mentioned in the judgment/order text.
Composition tax scheme rates set for small suppliers; manufacturers of ice cream, pan masala and tobacco excluded from eligibility.
Notification prescribes a composition levy allowing an eligible registered person below the aggregate turnover threshold to pay prescribed percentage-based rates of turnover instead of State tax, with differentiated rates for manufacturers, certain Schedule II suppliers, and other suppliers; it excludes manufacturers of goods identified by Customs Tariff headings-ice cream and other edible ices, pan masala, and tobacco products-from opting for composition, and adopts Customs Tariff interpretation rules for identifying excluded goods.
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