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Composition Levy

Ammar Elahi (29 Points)

11 April 2018

what is the latest rates for the manufacturers under composition levy ??

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prasad Nilugal ( GST Practitioner & Accounts ) (14221 Points)
Replied 11 April 2018

Tax rate is @ 1% for composition manufacturers .please confirm with others also .

Ammar Elahi (29 Points)
Replied 11 April 2018

with effect from

prasad Nilugal ( GST Practitioner & Accounts ) (14221 Points)
Replied 11 April 2018

I do not have the notification no and date , however same has been decided in 23 gst meeting 15/11/2017 , so think WEF 15/11/2017

Ammar Elahi (29 Points)
Replied 11 April 2018

I think this is w.e.f 1-1-2018

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prasad Nilugal ( GST Practitioner & Accounts ) (14221 Points)
Replied 11 April 2018

please confirm with others also .

RAJA P M ("Do the Right Thing...!!!") (127483 Points)
Replied 11 April 2018

CBEC reduces GST rate for composition scheme – Notification no. 1/2018

CBEC reduces GST rate for composition scheme – Notification no. 1/2018

CBEC has further reduced the GST rate to HALF PERCENT from ONE PERCENT for the manufacturers who have opted composition scheme.

CBEC has also notified that other suppliers who have opted for composition scheme, now only turnover of taxable supply of goods will be taxed at half percent rather than aggregate turnover at half percent.