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of <h1>Sikkim GST Act: Eligible Businesses Can Opt for Lower Tax Rates Under Composition Scheme; Excludes Ice Cream, Pan Masala, Tobacco.</h1> The Government of Sikkim, under the Sikkim Goods and Services Tax Act, 2017, allows eligible registered persons with a turnover not exceeding seventy-five lakh rupees in the previous financial year to opt for a composition scheme. The scheme offers reduced tax rates: one percent for manufacturers, two and a half percent for certain suppliers, and half a percent for other suppliers. However, turnover limits are fifty lakh rupees for certain northeastern states and Himachal Pradesh. Manufacturers of ice cream, pan masala, and tobacco products are excluded from this scheme. This notification is issued by the Finance, Revenue, and Expenditure Department of Sikkim.
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