Notification No. 1/2018
Date: January 1, 2018
Subject: Amendment in composition levy rates under section 10 of the CGST Act
Description:
Reduces the composition tax rate for manufacturers from 1% to 0.5%. Clarifies that 0.5% rate for traders applies only on turnover of taxable supplies of goods. Amendments are made in Notification No. 8/2017–Central Tax.
Effective Date: 1 January 2018
Previous Notification: Notification No. 8/2017 – Central Tax dated 27 June 2017
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