https://www.taxtmi.com/acts?id=26626 Composition levy allows a registered person with aggregate turnover up to fifty lakh rupees to opt to pay a prescribed amount in lieu of tax at specified capped rates, with the Government able to raise the turnover limit to one crore. Eligibility excludes certain services, exempt supplies, inter State outward supplies, supplies via specified e commerce operators, and notified manufacturers; registrants sharing a PAN must opt jointly. The option lapses on exceeding the turnover threshold; composition taxpayers cannot collect tax or claim input tax credit. Non eligible use of the option attracts tax determination and penalty provisions under the Act. en-us Wed, 21 Jun 2017 15:04:49 +0530 Sat, 08 Jul 2017 12:12:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=26626 Composition levy allows a registered person with aggregate turnover up to fifty lakh rupees to opt to pay a prescribed amount in lieu of tax at specified capped rates, with the Government able to raise the turnover limit to one crore. Eligibility excludes certain services, exempt supplies, inter State outward supplies, supplies via specified e commerce operators, and notified manufacturers; registrants sharing a PAN must opt jointly. The option lapses on exceeding the turnover threshold; composition taxpayers cannot collect tax or claim input tax credit. Non eligible use of the option attracts tax determination and penalty provisions under the Act. Act-Rules GST - States Wed, 21 Jun 2017 15:04:49 +0530 https://www.taxtmi.com/acts?id=26626