{"id":118,"date":"2018-08-18T11:12:08","date_gmt":"2018-08-18T11:12:08","guid":{"rendered":"http:\/\/khannaandassociates.com\/blog\/?p=118"},"modified":"2018-09-03T08:01:13","modified_gmt":"2018-09-03T08:01:13","slug":"section-10-composition-levy-of-cgst-act-2017","status":"publish","type":"post","link":"https:\/\/khannaandassociates.com\/blog\/section-10-composition-levy-of-cgst-act-2017\/","title":{"rendered":"Section 10 – Composition levy of CGST ACT, 2017"},"content":{"rendered":"

Section 10 – Composition levy of CGST ACT, 2017<\/p>\n

    \n
  1. (1) Notwithstanding anything to the contrary contained in this Act but subject to
    \nthe provisions of sub-sections (3) and (4) of section 9, a registered person, whose aggregate
    \nturnover in the preceding financial year did not exceed seventy five lakh rupees, may opt to pay, in
    \nlieu of the tax payable by him, an amount calculated at such rate as may be prescribed, but
    \nnot exceeding,\u2013\u2013
    \n(a) one per cent. of the turnover in State or turnover in Union territory in case of
    \na manufacturer,
    \n(b) two and a half per cent. of the turnover in State or turnover in Union territory
    \nin case of persons engaged in making supplies referred to in clause (b) of paragraph 6
    \nof Schedule II, and
    \n(c) half per cent. of the turnover in State or turnover in Union territory in case of
    \nother suppliers,
    \nsubject to such conditions and restrictions as may be prescribed:
    \nProvided that the Government may, by notification, increase the said limit of fifty lakh
    \nrupees to such higher amount, not exceeding one crore rupees, as may be recommended by
    \nthe Council.
    \n(2) The registered person shall be eligible to opt under sub-section (1), if:\u2014
    \n(a) he is not engaged in the supply of services other than supplies referred to in
    \nclause (b) of paragraph 6 of Schedule II;
    \n(b) he is not engaged in making any supply of goods which are not leviable to tax
    \nunder this Act;
    \n(c) he is not engaged in making any inter-State outward supplies of goods;
    \n(d) he is not engaged in making any supply of goods through an electronic
    \ncommerce operator who is required to collect tax at source under section 52; and
    \n(e) he is not a manufacturer of such goods as may be notified by the Government
    \non the recommendations of the Council:
    \nProvided that where more than one registered persons are having the same Permanent
    \nAccount Number (issued under the Income-tax Act, 1961), the registered person shall not be
    \neligible to opt for the scheme under sub-section (1) unless all such registered persons opt to
    \npay tax under that sub-section.<\/li>\n<\/ol>\n

    (3) The option availed of by a registered person under sub-section (1) shall lapse with
    \neffect from the day on which his aggregate turnover during a financial year exceeds the limit
    \nspecified under sub-section (1).
    \n(4) A taxable person to whom the provisions of sub-section (1) apply shall not collect
    \nany tax from the recipient on supplies made by him nor shall he be entitled to any credit of
    \ninput tax.
    \n(5) If the proper officer has reasons to believe that a taxable person has paid tax under
    \nsub-section (1) despite not being eligible, such person shall, in addition to any tax that may
    \nbe payable by him under any other provisions of this Act, be liable to a penalty and the
    \nprovisions of section 73 or section 74 shall, mutatis mutandis, apply for determination of tax
    \nand penalty<\/p>\n

     <\/p>\n

    \u00a0<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

    Section 10 – Composition levy of CGST ACT, 2017 (1) Notwithstanding anything to the contrary contained in this Act but subject to the provisions of sub-sections (3) and (4) of section 9, a registered person, whose aggregate turnover in the preceding financial year did not exceed seventy five lakh rupees, may opt to pay, in … Continue reading “Section 10 – Composition levy of CGST ACT, 2017”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[],"_links":{"self":[{"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/posts\/118"}],"collection":[{"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/comments?post=118"}],"version-history":[{"count":1,"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/posts\/118\/revisions"}],"predecessor-version":[{"id":119,"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/posts\/118\/revisions\/119"}],"wp:attachment":[{"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/media?parent=118"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/categories?post=118"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/tags?post=118"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}