GST # Revised Rates for Composition Scheme Persons | Notification-01-2018/Central Tax

GST Rate for Manufactures under Composite Scheme :

In the notification no 1 of the Central Tax dated 1^st Jan 2018, the applicable GST rate for Manufacturers has been reduced from 1% to .5%. Now the total GST will be comes to 1% (.5% CGST and .5% SGST)

Amended Turnover definition for the persons under clause(iii) of the Section 10.

The definition of the Turnover restricted to the Taxable Supplies, by giving relaxation of Tax on non-taxable supplies. Now such persons are required pay 1% (0.5%+.5%) tax only on taxable supplies. 

Refer the related notification as follows.

TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY PART II,  SECTION 3, SUB-SECTION (i)]
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(Department of Revenue)
Notification No. 1/2018- Central Tax
New Delhi, the 1st January, 2018

G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 10 of the Central Goods and Services Tax Act, 2017 (12 of 2017) the Central Government, on the recommendations of the Council, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No.8/2017- Central Tax, dated the 27th June, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 647 (E), dated the 27th June, 2017, namely:-

In the said notification, in the opening paragraph, -

(a) in clause (i), for the words “one per cent.”, the words “half per cent.” shall be

substituted;

(b) in clause (iii), for the words “half per cent. of the turnover”, the words “half per cent.of the turnover of taxable supplies of goods” shall be substituted.

[F. No. 354/320/2017- TRU]

(Ruchi Bisht)

Under Secretary to Government of India

Note: - The principal notification No.8/2017-Central Tax, dated the 27th June, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 647(E), dated the 27th June, 2017 and last amended by Notification No.46/2017-Central Tax, dated 13th October, 2017 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number GSR 1287 (E), dated the 13th October,2017