Notification of 1% GST to Manufacturers also under Composition Scheme upto Rs.1.5 Cr. Turnover

 

CEPC/GST/2018                                                                                                      Dated 03-01-2018

 

All  Members of the CEPC

 

Subject:- Notification of 1% GST to Manufacturers also under Composition Scheme upto Rs.1.5 Cr. Turnover

 

Dear Sir,

 

The government had notified lower 1% GST rates for manufacturers who have opted for composition scheme. The composition Scheme is now open for manufacturers, restaurants and traders whose turnover does not exceed Rs.1.5 Cr (Taxable Supplies of Goods).The regular tax payers has to pay taxes on monthly basis ,a composition supplier is required to file only one return and pay taxes on quarterly basis. The composition taxpayer is not required to keep detailed records that a normal tax payer is supposed to maintain.

 

Thanking you,

 

Yours Sincerely,

Rahul Kumar Singh.

 

Officer on Special Duty

 

Encl. Attachment - Notification-1-2018-central_tax-English.pdf