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of <h1>India Introduces 6% Tax Rate Scheme for Service Suppliers with Turnover Up to 50 Lakh Rupees; Conditions Apply.</h1> The Government of India, through Notification No. 2/2019-Central Tax (Rate) dated March 7, 2019, introduced a composition scheme for service suppliers with an annual turnover of up to 50 lakh rupees, allowing them to pay a reduced tax rate of 6%. Eligible registered persons must meet specific conditions, including not making inter-State supplies or using e-commerce platforms. The scheme requires issuing a bill of supply instead of a tax invoice and prohibits collecting tax from recipients. The notification specifies that certain goods, such as ice cream and tobacco, are excluded from this scheme. The notification took effect on April 1, 2019.
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