https://www.taxtmi.com/acts?id=30353 Registered persons with aggregate turnover not exceeding fifty lakh rupees may opt for a composition levy, paying prescribed rates by class of supplier instead of normal tax; the Government may raise the eligibility ceiling on Council recommendation. Exclusions include certain service providers, inter State suppliers, supplies not leviable to tax, supplies through specified e commerce operators, and notified manufacturers. Joint PAN holders must opt collectively. The option lapses on exceeding the turnover threshold; composition taxpayers cannot collect tax or claim input tax credit. Ineligible payment under the scheme attracts tax determination and penalties under the Act. en-us Mon, 10 Jul 2017 14:19:26 +0530 Thu, 17 Aug 2017 11:42:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=30353 Registered persons with aggregate turnover not exceeding fifty lakh rupees may opt for a composition levy, paying prescribed rates by class of supplier instead of normal tax; the Government may raise the eligibility ceiling on Council recommendation. Exclusions include certain service providers, inter State suppliers, supplies not leviable to tax, supplies through specified e commerce operators, and notified manufacturers. Joint PAN holders must opt collectively. The option lapses on exceeding the turnover threshold; composition taxpayers cannot collect tax or claim input tax credit. Ineligible payment under the scheme attracts tax determination and penalties under the Act. Act-Rules GST - States Mon, 10 Jul 2017 14:19:26 +0530 https://www.taxtmi.com/acts?id=30353