Vijayawada: After implementation of Goods and Services Tax (GST), the Union government has now started focusing on clearing apprehensions of traders. The central excise department has organised an awareness programme on GST in which deputy commissioner V. Ramanadha Reddy explained about composition levy scheme being designed for small taxpayers whose aggregate turnover is up to Rs 75 lakh in the financial year 2016-17.
“One can easily register into this scheme within 30 days of registering in the GST by submitting necessary documents and quoting his PAN. Turnover made across the country is calculated and one can get exemption of up to Rs 75 lakh per annum in southern states and Rs 50 lakh in nine north-eastern states with special category status,” said Mr Reddy.
All registered taxable persons are eligible, barring a few exceptions like a casual taxable person, a non-resident taxable person, a supplier of the services except restaurant, a person engaged in providing inter-state supplies, non-taxable goods and electronic commerce operator, manufactures of ice-cream, pan masala, tobacco, the deputy commissioner added.
