UTGST Notification no. 2/2017 – Turnover limit for composition scheme

Seeks to notify the turnover limit for Composition Levy for UTGST

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[TO BE PUBLISHED IN PART II, SECTION 3, SUB-SECTION (i) OF THE GAZETTEOF INDIA, EXTRAORDINARY]

GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(Department of Revenue)

Notification No. 2/2017-Union Territory Tax

New Delhi, the 27th June, 2017

G.S.R. (E).- In exercise of the powers conferred by sub-section (1) and sub-section (2) ofsection 10 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereinafterreferred to as the said Act) read with section 21 of the Union Territory Goods and ServicesTax Act, 2017 (14 of 2017), the Central Government, on the recommendations of theCouncil, hereby prescribes that an eligible registered person, whose aggregate turnover in thepreceding financial year did not exceed seventy five lakh rupees, may opt to pay, in lieu ofthe tax payable by him, an amount calculated at the rate of,

(i) one per cent. of the turnover in Union territory in case of a manufacturer,

(ii) two and a half per cent. of the turnover in Union territory in case of persons engagedin making supplies referred to in clause (b) of paragraph 6 of Schedule II of the saidAct, and

(iii) half per cent. of the turnover in Union territory in case of other suppliers:

Provided that a registered person shall not be eligible to opt for composition levyunder sub-section (1) of section 10 of the said Act read with section 21 of the Union TerritoryGoods and Services Tax Act, 2017 if such person is a manufacturer of the goods, thedescription of which is specified in column (3) of the Table below and falling under the tariffitem, sub-heading, heading or Chapter, as the case may be, as specified in the correspondingentry in column (2) of the said Table:-

Explanation.

(1) In this Table, tariff item, sub-heading, heading and chapter shall meanrespectively a tariff item, sub-heading, heading and chapter as specified in the First Scheduleto the Customs Tariff Act, 1975 (51 of 1975).

(2) The rules for the interpretation of the First Schedule to the Customs Tariff Act, 1975(51 of 1975), including the Section and Chapter Notes and the General Explanatory Notes ofthe First Schedule shall, so far as may be, apply to the interpretation of this notification.

[F.No.354/117/2017-TRU]

(Mohit Tewari)
Under Secretary to the Government of India