Difference between Local levy and Composition levy under GST terms
What is Composition levy? How does Local levy work under GST regime? What are the difference between Composition levy and Local levy?
Under GST system, the following information explains about Composition levy and Local levy.
As per GST terms, Composition levy is described as : Any person who has been granted registration on a provisional basis under clause (b) of sub-rule (1) of rule 24 and who opts to pay tax under section 10, shall electronically file an intimation in FORM GST CMP-01
Local levy a local property tax passed by voters of a school district that generates tax revenue for local school districts.
The details about Composition levy and Local levy with simple language from GST terms have been mentioned in this web blog separately. I suggest you to read these articles on Composition levy and Local levy, so as to enable you to have a clear idea on these GST terms.
For your immediate reference, we give below web links on Composition levy and Local levy separately below. You may kindly read the below links to know more about Local levy and Composition levy.
Meaning of composition levy
Meaning of term local levy under GST
The above information easily explains about Local levy and Composition levy.
I hope, you have satisfied with the difference between Composition levy and Local levy explained above. Do you have different thought on difference between Local levy and Composition levy?
Share below your thoughts about Composition levy and Local levy
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