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As per this Notification,

If last year turnover upto 75 lacs, then Composition Scheme available

However in following states, Turnover is 50 lacs instead of 75lacs

  • Arunachal Pradesh,
  • Assam,
  • Manipur,
  • Meghalaya,
  • Mizoram,
  • Nagaland,
  • Sikkim,
  • Tripura,
  • Himachal Pradesh

 

Rates of Composition Scheme

Name of Business Rate of CGST Rate of SGST Total Rate
Dealer 0.50% 0.50% 1.00%
Manufacturer 1% 1.00% 2.00%
Restaurant 2.50% 2.50% 5.00%

 

Following business cannot opt for composition scheme even if turnover is less than 50 lacs

Name of Business

Tariff Heading No

Ice cream and other edible ice, whether or not containing cocoa.

21050000

Pan Masala

21069020

Tobacco Products

All goods under Chapter 24

 

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Latest GST Notification
List of CGST Notifications (Non Rates)

List of CGST Notifications (Rates)

New Sections come into force Notification 1/2017

Appointment of Jurisdiction of Different Officers 2/2017

CGST Rules Notified Notification 3/2017

Common Portal Notified Notification 4/2017

Seller (Supplier) of Reverse Charge Exempted from Registration Notification 5/2017

Aadhar Card and Bank Account OTP as Mode of Verification (Notification 6/2017)

Changes Made in CGST Ruies 2017 (Notification 7/2017)

Turnover and Rates of Composition Scheme Notified (Notification 8/2017 DATED 27 June 2017) You are here

Following Sections come into Force (Notification 9/2017)

Central Goods and Service tax Second Amendment Rules (Notification No. 10/2017 dated)

Change in E Verification Method GST (Notification 11/2017 Non Rate)

Turnover Prescribed to Mention HSN Codes (Notification 12/2017)

CGST Interest Rates Notified (Notifications 13/2017)

Interest Rate and Calculation on Late Payment of GST

Officers whose Power to be Exercised Notified (Notification 14/2017)

Central Goods and Service tax Third Amendment Rules (Notification No. 15/2017 dated 1 July 2017)

Option Not to Give Bond and Give LOU instead (Notification 16/2017)

GSTR3B to be filed till What Period? Dec or March?

GSTR1 For July to be filed again?

GSTR1 Due Dates Changes 10 Nov 2017 Council Meeting

GSTR2 and GSTR3 Suspended Not to be filled

Late Fees for GST Return Reduced to Rs 20 from 200

GST Late Fees to be Refunded as Tax for July to September

Registration Not Required for E-Commerce Service Providers

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CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 7 years. He provides courses for Practical Accounts, Taxation and Efiling at teachoo.com .
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