https://www.taxtmi.com/acts?id=29764 Composition Levy permits a registered person below the prescribed turnover threshold to pay tax as a fixed percentage of turnover in lieu of regular tax, subject to prescribed rates and conditions. The option lapses when turnover exceeds the threshold. Eligible persons are excluded from making inter-State supplies, certain services, supplies through specified e-commerce operators, and notified manufacturing; they must not collect tax from recipients and are not entitled to input tax credit. Ineligibly availing the scheme attracts tax determination and penalties under the Act. en-us Wed, 05 Jul 2017 14:11:55 +0530 Mon, 31 Jul 2017 15:36:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=29764 Composition Levy permits a registered person below the prescribed turnover threshold to pay tax as a fixed percentage of turnover in lieu of regular tax, subject to prescribed rates and conditions. The option lapses when turnover exceeds the threshold. Eligible persons are excluded from making inter-State supplies, certain services, supplies through specified e-commerce operators, and notified manufacturing; they must not collect tax from recipients and are not entitled to input tax credit. Ineligibly availing the scheme attracts tax determination and penalties under the Act. Act-Rules GST - States Wed, 05 Jul 2017 14:11:55 +0530 https://www.taxtmi.com/acts?id=29764