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of <h1>Mizoram GST Act: Eligible Businesses Under Rs. 75 Lakh Can Opt for Composition Levy; Excludes Ice Cream & Tobacco Producers.</h1> The notification issued by the Governor of Mizoram under the Mizoram Goods and Services Tax Act, 2017, prescribes that eligible registered persons with an aggregate turnover not exceeding seventy-five lakh rupees in the preceding financial year may opt for a composition levy. This levy is calculated at one percent for manufacturers, two and a half percent for certain suppliers, and half a percent for other suppliers. However, those manufacturing specified goods like ice cream, pan masala, and tobacco products are excluded. For certain states, the turnover threshold is fifty lakh rupees. This notification is effective from July 1, 2017.
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