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The Central Government prescribes the turnover limit and tax rates for eligible registered persons who opt to pay the composition levy under the Central Goods and Services Tax Act, 2017. An eligible registered person may opt for the composition levy if the aggregate turnover in the preceding financial year does not exceed seventy five lakh rupees. The aggregate turnover limit is fifty lakh rupees for persons registered in Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura, and Himachal Pradesh. Manufacturers of specific goods such as ice cream, pan masala, and tobacco are not eligible to opt for the composition levy.
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[TO BE PUBLISHED IN PART II, SECTION 3, SUB-SECTION (i) OF THE GAZETTE OF INDIA, EXTRAORDINARY]
GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue)
Notification No. 8/2017-Central Tax
New Delhi, the 27th June, 2017
G.S.R. (E).- In exercise of the powers conferred under the proviso to sub-section (1) of section 10 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereinafter referred to as the said Act), the Central Government, on the recommendations of the Council, hereby prescribes that an eligible registered person, whose aggregate turnover in the preceding financial year did not exceed seventy five lakh rupees, may opt to pay, in lieu of the central tax payable by him, an amount calculated at the rate of,-
Provided that the aggregate turnover in the preceding financial year shall be fifty lakh rupees in the case of an eligible registered person, registered under section 25 of the said Act, in any following States, namely: -
Provided further that the registered person shall not be eligible to opt for composition levy under sub-section (1) of section 10 of the said Act if such person is a manufacturer of the goods, the description of which is specified in column (3) of the Table below and falling under the tariff item, sub-heading, heading or Chapter, as the case may be, as specified in the corresponding entry in column (2) of the said Table:-
TABLE
| S. No. | Tariff item, sub-heading, heading or Chapter | Description |
|---|---|---|
| (1) | (2) | (3) |
| 1. | 2105 00 00 | Ice cream and other edible ice, whether or not containing cocoa. |
| 2. | 2106 90 20 | Pan masala |
| 3. | 24 | All goods, i.e. Tobacco and manufactured tobacco substitutes |
Explanation. –
(1) In this Table, “tariff item”, “sub-heading”, “heading” and “chapter” shall mean respectively a tariff item, sub-heading, heading and chapter as specified in the First Schedule to the Customs Tariff Act, 1975 (51 of 1975).
(2) The rules for the interpretation of the First Schedule to the said Customs Tariff Act, 1975 (51 of 1975), including the Section and Chapter Notes and the General Explanatory Notes of the First Schedule shall, so far as may be, apply to the interpretation of this notification.
[F.No.354/117/2017-TRU]
(Mohit Tewari)
Under Secretary to the Government of India
