Prescribing Composition Scheme with 3% Rate of Tax for Persons Having Annual Turnovers up to ₹ 50 Lakhs in the Preceding Year and Supplies include Services.

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..... e recommendations Goods and Services Tax of the Council, and on being satisfied that it is necessary in 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 (percent.) Conditions (1) (2) (3) First supplies of goods or services or both upto an aggregate turnover of .....

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..... any credit of input tax. (4) The registered person shall issue, instead of tax invoice, a bill of supply as referred to in clause (c) of sub-section (3) of section 31 of the said Act with particulars as prescribed in Rule 49 of Andhra pradesh 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 notification issued in G.O.Ms.No.255/2019, Revenue (CT-II) Dept., Dt.20-03-2019, 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 suppl .....

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..... 3 24 All goods, i.e. Tobacco and manufactured tobacco substitutes 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. 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 (Central Act No 51 of .....

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