Composition levy eligibility updated: turnover-based limit with reduced threshold for certain hill states; specified goods excluded. An eligible registered person may opt for the composition levy in lieu of regular tax subject to an aggregate turnover cap in the preceding financial year, with a reduced turnover threshold for persons registered under section 25 in specified hill and northeastern States and Uttarakhand. Composition is prohibited for manufacturers of goods listed in the Table-edible ice and ice cream, pan masala, and all tobacco and manufactured tobacco substitutes-with tariff references interpreted by the First Schedule to the Customs Tariff Act. The notification supersedes an earlier one and comes into force on the stated commencement date.
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Provisions expressly mentioned in the judgment/order text.
Composition levy eligibility updated: turnover-based limit with reduced threshold for certain hill states; specified goods excluded.
An eligible registered person may opt for the composition levy in lieu of regular tax subject to an aggregate turnover cap in the preceding financial year, with a reduced turnover threshold for persons registered under section 25 in specified hill and northeastern States and Uttarakhand. Composition is prohibited for manufacturers of goods listed in the Table-edible ice and ice cream, pan masala, and all tobacco and manufactured tobacco substitutes-with tariff references interpreted by the First Schedule to the Customs Tariff Act. The notification supersedes an earlier one and comes into force on the stated commencement date.
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