Composition levy threshold increased to seventy five lakh rupees, with specified manufacturer exclusions limiting eligibility. Increase of the composition levy aggregate turnover threshold to seventy five lakh rupees permits a registered person whose aggregate turnover in the preceding financial year did not exceed that amount to opt for composition tax under section 10(1). Manufacturers of specified goods - ice cream (2105 00 00), pan masala (2106 90 20) and all goods under Chapter 24 (tobacco and substitutes) - are excluded from eligibility. The notification applies Customs Tariff Act interpretative rules and is effective from 25 June 2017, superseding Notification No. 1095-F.T.
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Provisions expressly mentioned in the judgment/order text.
Composition levy threshold increased to seventy five lakh rupees, with specified manufacturer exclusions limiting eligibility.
Increase of the composition levy aggregate turnover threshold to seventy five lakh rupees permits a registered person whose aggregate turnover in the preceding financial year did not exceed that amount to opt for composition tax under section 10(1). Manufacturers of specified goods - ice cream (2105 00 00), pan masala (2106 90 20) and all goods under Chapter 24 (tobacco and substitutes) - are excluded from eligibility. The notification applies Customs Tariff Act interpretative rules and is effective from 25 June 2017, superseding Notification No. 1095-F.T.
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