Central Tax seeks to further amend notification No. 8/2017 - Central Tax so as to prescribe effective rate of tax under composition scheme for manufacturers and other suppliers - 1/2018 - Central GST (CGST)
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Composition scheme rates and taxable base revised: levy reduced and base confined to taxable supplies of goods. Amendment alters two clauses of the principal notification governing the composition scheme: it reduces the stated rate for a specified category of taxpayers and narrows the computation base for another category by substituting 'turnover' with 'turnover of taxable supplies of goods', thus confining liability calculation to taxable goods supplies.
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Provisions expressly mentioned in the judgment/order text.
Composition scheme rates and taxable base revised: levy reduced and base confined to taxable supplies of goods.
Amendment alters two clauses of the principal notification governing the composition scheme: it reduces the stated rate for a specified category of taxpayers and narrows the computation base for another category by substituting "turnover" with "turnover of taxable supplies of goods", thus confining liability calculation to taxable goods supplies.
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