Composition levy revised to a lower rate; applicability limited to turnover from taxable supplies of goods, effective January. The Government, on the GST Council's recommendation, amends the composition levy notification effective 1 January 2018 by substituting a lower rate in clause (i) and by redefining clause (iii) to state the levy as a proportion of the turnover of taxable supplies of goods, thereby narrowing the composition levy's turnover base under the State GST notification.
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Composition levy revised to a lower rate; applicability limited to turnover from taxable supplies of goods, effective January.
The Government, on the GST Council's recommendation, amends the composition levy notification effective 1 January 2018 by substituting a lower rate in clause (i) and by redefining clause (iii) to state the levy as a proportion of the turnover of taxable supplies of goods, thereby narrowing the composition levy's turnover base under the State GST notification.
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