Revised Threshold Limit For Composition Levy

Revised Threshold Limit For Composition Levy

An eligible registered person, whose aggregate Turnover in the preceding financial year did not exceed Rs.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% of turnover in State or turnover in Union Territory in case of persons engaged in making supplies referred to in Paragraph 6(b) of Schedule II to the CGST Act; and
  3. 0.5% of turnover in State or turnover in Union Territory in case of other suppliers.

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