GST Tip – 179

In the CGST Bill as introduced in the Parliament, for registration under the Composition levy, prior permission of the tax officials is removed and also the tax rates have been reduced. The revised maximum rates for manufacturing is  1% previously it was 2.5%, in other cases (traders)  it is 0.5% previously it was 1%. In the case of restaurants, the rate should not be more than 2.5%.