https://www.taxtmi.com/acts?id=25150 Composition levy allows a registered person below the prescribed turnover ceiling to opt to pay a prescribed rate in lieu of tax, subject to eligibility conditions excluding specified services, supplies not leviable to tax, inter-State outward supplies, supplies through certain e-commerce operators, and notified excluded manufactures. The option lapses if turnover exceeds the threshold; composition taxpayers cannot collect tax nor claim input tax credit. Wrongful availing attracts tax determination and penalty under the assessment provisions. en-us Thu, 25 May 2017 10:29:32 +0530 Fri, 07 Jul 2017 11:05:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=25150 Composition levy allows a registered person below the prescribed turnover ceiling to opt to pay a prescribed rate in lieu of tax, subject to eligibility conditions excluding specified services, supplies not leviable to tax, inter-State outward supplies, supplies through certain e-commerce operators, and notified excluded manufactures. The option lapses if turnover exceeds the threshold; composition taxpayers cannot collect tax nor claim input tax credit. Wrongful availing attracts tax determination and penalty under the assessment provisions. Act-Rules GST - States Thu, 25 May 2017 10:29:32 +0530 https://www.taxtmi.com/acts?id=25150