Composition levy eligibility restricted: turnover threshold governs opt in and manufacturers of specified goods are excluded from composition. Permits eligible registered persons with aggregate turnover in the preceding year not exceeding the prescribed threshold to opt for composition levy at different rates by nature of supply, while explicitly excluding manufacturers of goods specified by tariff references (ice cream and edible ice; pan masala; tobacco and manufactured tobacco substitutes) from opting for composition; tariff references are to be interpreted using the First Schedule to the Customs Tariff Act, 1975, and the notification specifies its commencement date.
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Provisions expressly mentioned in the judgment/order text.
Composition levy eligibility restricted: turnover threshold governs opt in and manufacturers of specified goods are excluded from composition.
Permits eligible registered persons with aggregate turnover in the preceding year not exceeding the prescribed threshold to opt for composition levy at different rates by nature of supply, while explicitly excluding manufacturers of goods specified by tariff references (ice cream and edible ice; pan masala; tobacco and manufactured tobacco substitutes) from opting for composition; tariff references are to be interpreted using the First Schedule to the Customs Tariff Act, 1975, and the notification specifies its commencement date.
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