As per the notification issued by the Finance Ministry, manufacturer of ice cream, and other edible ice, whether or not containing cocoa, shall not be eligible to opt for composition levy under the Act.
Also, makers of tobacco and manufactured tobacco substitutes will not be able to opt for the scheme.
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This turnover limit was hiked earlier this month by the GST Council from Rs 50 lakh.
However, the turnover limit for availing composition scheme in the eight north-eastern states and the hilly state of Himachal Pradesh will be Rs 50 lakh.
Businesses with aggregate turnover of up to Rs 20 lakh (Rs 10 lakh in North-East and special category states) are exempt from GST.
Businesses whose aggregate turnover in the preceding financial year is less than Rs 75 lakh can opt for a simplified 'composition scheme' wherein tax will be payable at a concessional rate on the turnover.
Besides, the Finance Ministry has also notified 12 amendments to the Central Goods and Services Tax (CGST) Rules.
Among other things, the amendments provide for cancellation of registration of a business for violation of anti-profiteering rules.
With regard to migration of persons registered under the existing service tax, excise or VAT laws, the notification says that where a registration certificate has not been issued within 15 days from the date of filing of information and no notice has been issued, the registration shall be deemed to have been granted.
Besides, all applications, including reply, if any, to the notices, returns, appeals or any other document required to be submitted under the provisions can be verified through e-signature or any other mode of signature or verification as may be notified.
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