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Composition Levy

Section 8 - Draft-Bills-Reports - LEVY OF, AND EXEMPTION FROM, TAX - MODEL GST LAW - GOODS AND SERVICES TAX ACT, 2016 - Draft June 2016 - Section 8 - 8. (1) Notwithstanding anything to the contrary contained in the Act but subject to subsection (3) o .....

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ial year does not exceed [fifty lakh of rupees], to pay, in lieu of the tax payable by him, an amount calculated at such rate as may be prescribed, but not less than one percent of the turnover during the year: Provided that no such permission shall .....

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said taxable person, also opt to pay tax under the provisions of this sub-section. (2) A taxable person to whom the provisions of sub-section (1) apply shall not collect any tax from the recipient on supplies made by him nor shall he be entitled to a .....

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