Govt. notifies 1% GST for manufacturers registered under Composition Scheme

No Comments

The Central Board Of Excise and Custom vide Notification No. 1/2018- Central Tax dated January 01, 2018 has given effect to recommendations of 23rd GST council meeting by prescribing the effective rate of tax under composition scheme for manufacturers @ 0.5 % of the turnover in state i.e. at par with rate of tax paid by composition dealers.

Also, traders registered as composition dealer shall pay 0.5 % of the turnover of taxable supplies of goods, instead of tax @ 0.5 % of turnover including exempt supply.

Read More at: