Composition scheme rates revised for manufacturers, specified suppliers and others; cross-state eligibility proviso removed, retroactive effect declared. Corrigendum prescribes composition scheme rates: one per cent of turnover in State for manufacturers; two and a half per cent for persons making supplies under clause (b) of paragraph 6 of Schedule II; and half per cent for other suppliers, deletes the proviso permitting cross state suppliers to opt in based on a preceding year turnover threshold, and makes the corrigendum effective from 25 June 2017.
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Composition scheme rates revised for manufacturers, specified suppliers and others; cross-state eligibility proviso removed, retroactive effect declared.
Corrigendum prescribes composition scheme rates: one per cent of turnover in State for manufacturers; two and a half per cent for persons making supplies under clause (b) of paragraph 6 of Schedule II; and half per cent for other suppliers, deletes the proviso permitting cross state suppliers to opt in based on a preceding year turnover threshold, and makes the corrigendum effective from 25 June 2017.
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