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REVISED THRESHOLD LIMIT FOR COMPOSITION LEVY As per discussions in the 16th GST Council Meeting held on 11th June 2017

Goods and Services Tax - GST - Dated:- 12-6-2017 - Sub section (1) of section 10 read with sub-section (2) of the same section of the Central Goods and Services Tax Act, 2017 [CGST Act] provides that an eligible registered person, whose aggregate turnover in the preceding financial year did not exceed ₹ 50 lakh, may opt to pay, in lieu of the tax payable by him, an amount calculated at the rate of: 1. 1% of turnover in State or turnover in Union Territory in case of a manufacturer; 2. 2.5% .....

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