Rate on First supplies upto fifty lakh rupees in any financial year by a registered person

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... the public interest so to do, hereby notifies that the State tax, on the intra-State supply of goods or services or both as specified in column (1) of the Table below, shall be levied at the rate specified in the corresponding entry in column (2), subject to the conditions as specified in the corresponding entry in column (3) of the said table below, namely:- Table Description of supply Rate (per cent.) Conditions (1) (2) (3) First supplies of goods or services or both upto an aggregate turnover of fifty lakh rupees made on or after the 1st day of April in any financial year, by a registered person. .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... se (c) of sub-section (3) of section 31 of the said Act with particulars as prescribed in rule 49 of Gujarat Goods and Services Tax Rules. 5. The registered person shall mention the following words at the top of the bill of supply, namely:- taxable person paying tax in terms of Government Notification, Finance Department, No. (GHN-22)GST-2019/S.11(1)(42)-TH dated the 07.03.2019, Notification No.2/2019-State Tax (Rate), not eligible to collect tax on supplies . 6. The registered person opting to pay State tax at the rate of three percent under this notification shall be liable to pay State tax at the rate of three percent on all outward supplies specified in column (1) notwithstanding any other notification issued under sub-sect .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... utes 2. In computing aggregate turnover in order to determine eligibility of a registered person to pay State tax at the rate of three percent under this notification, value of supply of exempt services by way of extending deposits, loans or advances in so far as the consideration is represented by way of interest or discount, shall not be taken into account. 3. Explanation. For the purpose of this notification, - (i) tariff item , sub-heading , heading and chapter shall mean respectively a tariff item, sub-heading, heading and chapters specified in the First Schedule to the Customs Tariff Act, 1975 (51 of 1975). (ii) the rules for the interpretation of the First Schedule to the said Customs Tariff Act, 1975 .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X