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)

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.