https://www.taxtmi.com/article/detailed?id=9241 Section 10 permits eligible taxpayers to opt for a composition levy paying prescribed percentages of turnover instead of regular GST; eligibility is determined by aggregate turnover on an all India PAN basis with exclusions for certain inward supplies and notified goods. The option requires state wise exercise and specified electronic filings (CMP 01/02/03, ITC 3/ITC 01, GSTR 4), mandates invoice and signboard disclosures, and imposes conditions whose breach causes automatic withdrawal, reversal of input tax credit for stock and potential liability under the regular tax and penalty provisions. en-us Fri, 05 Jun 2020 08:51:09 +0530 Fri, 05 Jun 2020 08:51:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=9241 Section 10 permits eligible taxpayers to opt for a composition levy paying prescribed percentages of turnover instead of regular GST; eligibility is determined by aggregate turnover on an all India PAN basis with exclusions for certain inward supplies and notified goods. The option requires state wise exercise and specified electronic filings (CMP 01/02/03, ITC 3/ITC 01, GSTR 4), mandates invoice and signboard disclosures, and imposes conditions whose breach causes automatic withdrawal, reversal of input tax credit for stock and potential liability under the regular tax and penalty provisions. Articles Goods and Services Tax - GST Fri, 05 Jun 2020 08:51:09 +0530 https://www.taxtmi.com/article/detailed?id=9241