Composition Levy eligibility clarified for small registered persons; manufacturers of specified goods barred from opting. An eligible registered person with aggregate turnover below the specified threshold may opt to pay a composition amount in lieu of tax under the general provisions as prescribed by the composition rules; however, the composition option is not available to manufacturers of specified goods - ice cream and other edible ice, pan masala, and all tobacco and manufactured tobacco substitutes - identified by tariff nomenclature, with customs tariff interpretation rules applying, and the notification supersedes the earlier notification and commences on the stated date.
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Composition Levy eligibility clarified for small registered persons; manufacturers of specified goods barred from opting.
An eligible registered person with aggregate turnover below the specified threshold may opt to pay a composition amount in lieu of tax under the general provisions as prescribed by the composition rules; however, the composition option is not available to manufacturers of specified goods - ice cream and other edible ice, pan masala, and all tobacco and manufactured tobacco substitutes - identified by tariff nomenclature, with customs tariff interpretation rules applying, and the notification supersedes the earlier notification and commences on the stated date.
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