Composition Scheme in GST - OLD

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..... d expertise to comply with the requirements relating to records, accounts filing of detailed monthly returns. Hence, a simplified, though limited, composition scheme has been provided under section 10 of CGST Act. Eligibility A registered person, whose aggregate turnover in the preceding financial year did not exceed 75 lakh rupees. In case of Uttarakhand and Jammu Kashmir also, the t .....

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..... d rule 7 of CGST Rules, 2017]- Sl. No. Category of registered persons Rate of tax CGST+SGST (1) (2) (3) 1. Manufacturers, other than manufacturers of such goods as may be notified by the Government 1% + 1% = 2% .....

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..... stoms Tariff item 2105 00 00 - Ice cream and other edible ice, whether or not containing cocoa. Customs Tariff item 2106 90 20 - Pan masala Customs Chapter 24 - Tobacco and manufactured tobacco substitutes. [See Notification No. 8/2017-CT dated 27-6-2017]. Restriction and conditions As per section 10(2) of CGST Act, following taxable persons will be eligible for composition .....

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..... cheme will be Lapsed if the aggregate turnover during the financial year exceeds the turnover of ₹ 75 Lakhs / 50 Lakhs as the case may be. All registered taxable persons having same PAN number should opt for the composition scheme. For Meaning of 'aggregate turnover' - visit this page Composite Tax at the prescribe ate is payable even on exempted goods also since the .....

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