Sunday, April 3, 2022

Rule 7 of CGST Rules 2017

Rate of tax of the composition levy.- The category of registered persons, eligible for composition levy under section 10 and the provisions of this Chapter, specified in column (2) of the Table below shall pay tax under section 10 at the rate specified in column (3) of the said Table:-

[

S. No. (1)Section under which composition levy is opted (1A)Category of registered persons (2)Rate of tax (3)
1Sub-sections (1) and (2) of section 10Manufacturers, other than manufacturers of such goods as may be notified by the Governmenthalf per cent. of the turnover in the State or Union territory
2Sub-sections (1) and (2) of section 10Suppliers making supplies referred to in clause (b) of paragraph 6 of Schedule IItwo and a half per cent. of the turnover in the State or Union territory
3Sub-sections (1) and (2) of section 10Any other supplier eligible for composition levy under sub-sections (1) and (2) of section 10half per cent. of the turnover of taxable supplies of goods and services in the State or Union territory
4Sub-section (2A) of section 10Registered persons not eligible under the composition levy under sub-sections (1) and (2), but eligible to opt to pay tax under sub-section (2A), of section 10three per cent. of the turnover of supplies of goods and services in the State or Union territory.
]7

Amendmends made to Rule 7 of CGST Rules 2017

7 Substituted vide Notf no. 50/2020-CT dt. 24.06.2020 wef 01.04.2020 for

S. No. (1)Category of registered persons (2)Rate of tax (3)
1Manufacturers, other than manufacturers of such goods as may be notified by the Governmenthalf per cent. of the turnover in the State or Union territory
2Suppliers making supplies referred to in clause (b) of paragraph 6 of Schedule IItwo and a half per cent. of the turnover in the State or Union territory
3Any other supplier eligible for composition levy under section 10 and the provisions of this Chapterhalf per cent. of the turnover of taxable supplies of [goods and services] in the State or Union territory