https://www.taxtmi.com/acts?id=21520 The composition levy permits a registered taxable person with limited aggregate turnover, on Council recommendation and subject to prescribed conditions, to obtain permission from the proper officer to pay a prescribed composition amount in lieu of tax, subject to exclusions for inter-State supplies and a PAN-based unanimous opt-in. A composition taxpayer must not collect tax nor claim input tax credit, and if later found ineligible faces tax liability and a penalty equal to the tax after notice and opportunity to be heard. en-us Wed, 15 Jun 2016 14:20:19 +0530 Wed, 15 Jun 2016 14:20:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=21520 The composition levy permits a registered taxable person with limited aggregate turnover, on Council recommendation and subject to prescribed conditions, to obtain permission from the proper officer to pay a prescribed composition amount in lieu of tax, subject to exclusions for inter-State supplies and a PAN-based unanimous opt-in. A composition taxpayer must not collect tax nor claim input tax credit, and if later found ineligible faces tax liability and a penalty equal to the tax after notice and opportunity to be heard. Act-Rules Bills Wed, 15 Jun 2016 14:20:19 +0530 https://www.taxtmi.com/acts?id=21520