https://www.taxtmi.com/acts?id=26806 Composition levy allows a registered person below the turnover threshold to opt to pay tax at prescribed turnover rates instead of regular tax; distinct rates apply by supplier category and the Government may raise the threshold. Ineligible persons include certain service suppliers, those making non-taxable or inter-state supplies, supplies through specified ecommerce operators, and notified manufacturers. The option lapses when turnover exceeds the threshold; the opting person cannot collect tax from recipients or claim input tax credit, and wrongful availing attracts tax determination and penalty provisions. en-us Wed, 21 Jun 2017 18:54:07 +0530 Fri, 30 Jun 2017 12:46:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=26806 Composition levy allows a registered person below the turnover threshold to opt to pay tax at prescribed turnover rates instead of regular tax; distinct rates apply by supplier category and the Government may raise the threshold. Ineligible persons include certain service suppliers, those making non-taxable or inter-state supplies, supplies through specified ecommerce operators, and notified manufacturers. The option lapses when turnover exceeds the threshold; the opting person cannot collect tax from recipients or claim input tax credit, and wrongful availing attracts tax determination and penalty provisions. Act-Rules GST - States Wed, 21 Jun 2017 18:54:07 +0530 https://www.taxtmi.com/acts?id=26806