https://www.taxtmi.com/news?id=19031 Changes to the Composition Scheme propose a uniform tax rate of 1% for manufacturers and traders, with traders' turnover counted only for taxable goods; restaurants remain unchanged. Supplies of services by a composition taxpayer up to a specified annual threshold would be exempt. The Council proposes raising annual turnover eligibility and a subsequent staged increase, but the service exemption and turnover-eligibility changes will be implemented only after amendments to the CGST Act and SGST Acts. en-us Fri, 10 Nov 2017 21:01:56 +0530 Sat, 11 Nov 2017 10:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=19031 Changes to the Composition Scheme propose a uniform tax rate of 1% for manufacturers and traders, with traders' turnover counted only for taxable goods; restaurants remain unchanged. Supplies of services by a composition taxpayer up to a specified annual threshold would be exempt. The Council proposes raising annual turnover eligibility and a subsequent staged increase, but the service exemption and turnover-eligibility changes will be implemented only after amendments to the CGST Act and SGST Acts. News - Fri, 10 Nov 2017 21:01:56 +0530 https://www.taxtmi.com/news?id=19031