Changes recommended in Composition Scheme by the GST Council in its 23rd Meeting on 10th Nov 2017

Uniform rate of tax @ 1% under composition scheme for manufacturers and traders (for traders, turnover will be counted only for supply of taxable goods). No change for composition scheme for restaurant.  Supply of services by Composition taxpayer upto Rs 5 lakh per annum will be allowed by exempting the same  Annual turnover eligibility for composition scheme will be increased to Rs 2 cr…