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Rule 7 of CGST Rules, 2017 amended vide CGST (Seventh Amendment) Rules, 2020 dated 24.06.2020 with retrospective effect from 01st April 2020

Amended table of Rule 7 - Composition Levy is as below. - Notification No.50/2020 - Central Tax

Sl. No. Section under which composition levy is opted Category of registered persons Rate of tax
(1) (1A) (2) (3)
1. Sub-sections (1) and (2) of section 10 Manufacturers, other than manufacturers of such goods as may be notified by the Government half per cent. of the turnover in the State or Union territory
2. Sub-sections (1) and (2) of section 10 Suppliers making supplies referred to in clause (b) of paragraph 6 of Schedule II two and a half per cent. of the turnover in the State or Union territory
3. Sub-sections (1) and (2) of section 10 Any other supplier eligible for composition levy under sub-sections (1) and (2) of section 10 half per cent. of the turnover of taxable supplies of goods and services in the State or Union territory
4. Sub-section (2A) of section 10 Registered persons not eligible under the composition levy under subsections (1) and (2), but eligible to opt to pay tax under sub-section (2A), of section 10 three per cent. of the turnover of taxable supplies of goods and services in the State or Union territory.’

 


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Author:

TaxReply


Jun 25, 2020


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