Notification No 8/2017 Central Tax Dtd 27th June, 2017

Seeks to to notify the turnover limit for Composition Levy for CGST vide Notification No 8/2017 Central Tax dated 27th June 2017

[ 1. Central Tax seeks to further amend notification No. 8/2017 – Central Tax so as to prescribe effective rate of tax under composition scheme for manufacturers and other suppliers. vide Notification No 1/2018 Central Tax Dated 1 st January, 2018

2  Seeks to amend above notification No. 8/2017-Central Tax vide Notification No 46/2017 Central Tax Dated 13th October, 2017 ] 

Notification No 14/2019 Central Tax Dated 07.03.2019 Seeks to supersede notification No. 08/2017 – Central Tax dated 27.06.2017 in order to extend the limit of threshold of aggregate turnover for availing Composition Scheme u/s 10 of the CGST Act, 2017 to Rs. 1.5 crores.

 PUBLISHED IN THE GAZETTE OF INDIA,
EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)]
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF REVENUE
CENTRAL BOARD OF EXCISE AND CUSTOMS

Notification No. 8/2017 – Central Tax

New Delhi, the 27th June, 2017

G.S.R. 647(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 ¹[one crore rupees], may opt to pay, in lieu of the central tax payable by him, an amount calculated at the rate of,––

(i) ² [ half per cent ]  of the turnover in State in case of a manufacturer,

(ii) two and a half per cent. of the turnover in State in case of persons engaged in making supplies referred to in clause (b) of paragraph 6 of Schedule II of the said Act, and

(iii) ³ [ half per cent of the turnover of taxable supplies of goods ] in State in case of other suppliers:

Provided that the aggregate turnover in the preceding financial year shall be ⁴[seventy-five lakh rupees] in the case of an eligible registered person, registered under section 25 of the said Act, in any following States, namely: –

(i) Arunachal Pradesh,
(ii) Assam,
(iii) Manipur,
(iv) Meghalaya,
(v) Mizoram,
(vi) Nagaland,
(vii) Sikkim,
(viii) Tripura,
(ix) Himachal Pradesh:

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

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

Notes on Notification

4 Substituted for “fifty lakh rupees” by Notification No. 46/2017-Central Tax, dated 13-10-2017, w.e.f. 13-10-2017.

3. Substituted for “half per cent of the turnover” by Notification No.1/2018-Central Tax, dated 1-1-2018.

2. Substituted for “one per cent” by Notification No.1/2018-Central Tax, dated 1-1-2018.

1. Substituted for “seventy-five lakh rupees” Notification No. 46/2017-Central Tax, dated 13-10-2017, w.e.f. 13-10-2017.

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