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RECOMMENDATIONS REGARDING THE COMPOSITION LEVY AND GST RATE ON CERTAIN GOODS [As per discussions in the 17th GST Council Meeting held on 18th June, 2017]

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..... RECOMMENDATIONS REGARDING THE COMPOSITION LEVY AND GST RATE ON CERTAIN GOODS [As per discussions in the 17th GST Council Meeting held on 18th June, 2017] - Goods and Services Tax - GST Dated:- 19-6-2017 - News - RECOMMENDATIONS REGARDING THE COMPOSITION LEVY AND GST RATE ON CERTAIN GOODS [As per discussions in the 17th GST Council Meeting held on 18th June, 2017] I. The Turnove .....

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..... r Limit for the Composition Levy: 1. The GST Council, in its meeting held on 11th June, 2017, had recommended increase in the turnover limit for Composition Levy for CGST and SGST purposes from ₹ 50 lakh to ₹ 75 lakh for all eligible registered persons. However, no clear view was taken as to whether or not this increased turnover limit will apply in case of Special Category States. .....

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..... 2. In its meeting held on 18th June, 2017, the GST Council has recommended that the turnover limit for Composition Levy for CGST and SGST purposes shall be ₹ 50 lakh in respect of the following Special Category States namely: 1. Arunachal Pradesh, 2. Assam, 3. Manipur, 4. Meghalaya, 5. Mizoram, 6. Nagaland, 7. Sikkim, 8. Tripura, and 9. Himachal Pradesh. 3. .....

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..... The Council has also recommended that in case of Uttarakhand, the turnover limit for Composition Levy for CGST and SGST purposes will be ₹ 75 lakh. 4. For the State of Jammu Kashmir the turnover limit for the Composition levy will be decided in due course. II. Manufacturers of goods who will not be eligible for Composition Levy : The GST Council has also recommended that manufa .....

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..... cturers of the following goods shall not be eligible for the Composition Levy: S. No. Classification (Tariff item / Chapter) Description 1 2105 00 00 Ice cream and other edible ice, whether or not containing cocoa. 2 2106 90 20 Pan ma .....

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..... sala 3 24 Tobacco and manufactured tobacco substitutes III. GST RATE ON CERTAIN GOODS : 1. The GST Council also recommended that the GST rate on dried singhada and makhana will be 5%. - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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