Clause 1: Composition rates and turnover ceiling
1. Composition rates and turnover ceiling.—In exercise of the powers conferred under the proviso to sub-section (1) of section 10 of the Central Goods and Services Tax Act, 2017 (12 of 2017) [...] hereby prescribes that an eligible registered person, whose aggregate turnover in the preceding financial year did not exceed one crore rupees, may opt to pay, in lieu of the central tax payable by him, an amount calculated at the rate of,—
(i) half per cent. of the turnover in State in case of a manufacturer,
(ii) two and a half per cent. of the turnover in State in case of persons engaged in making supplies referred to in clause (b) of paragraph 6 of Schedule II of the said Act, and
(iii) 2half per cent. of the turnover of taxable supplies of goods in State in case of other suppliers [...]
- Words introduced
- half per cent.
- Words replaced
- one per cent.
- Amending instrument
- Notification No. 1/2018 - Central Tax
- Effective from
- 1 January 2018
- Commencement reference
- No commencement reference is recorded for this operation.
- Marking
- The words this operation introduced stand 3 times in the text above, and the register does not record which of them this operation produced, so no run is marked for it.
- Words as they now stand
- half per cent. of the turnover of taxable supplies of goods
- Words replaced
- half per cent. of the turnover
- Amending instrument
- Notification No. 1/2018 - Central Tax
- Effective from
- 1 January 2018
- Commencement reference
- No commencement reference is recorded for this operation.
The text above is a reproduction prepared for this register, not the certified Gazette wording. The Gazette in which the instrument was published remains the authentic record.