Section 10(1) in Telangana Goods and Services Tax Act, 2017
(1)Notwithstanding anything to the contrary contained in this Act but subject to the provisions of sub-sections (3) and (4) of section 9, a registered person, whose aggregate turnover in the preceding financial year did not exceed fifty lakh rupees, may opt to pay, [in lieu of the tax payable by him under sub-section (1) of section 9, an amount of tax calculated at such rate] [Substituted by Act 3 of 2019.] as may be prescribed, but not exceeding,-(a)one per cent. of the turnover in State in case of a manufacturer,(b)two and a half per cent. of the turnover in State in case of persons engaged in making supplies referred to in clause (b) of paragraph 6 of Schedule II, and(c)half per cent. of the turnover in State in case of other suppliers, subject to such conditions and restrictions as may be prescribed:Provided that the Government may, by notification, increase the said limit of fifty lakh rupees to such higher amount, not exceeding [one crore and fifty lakh rupees] [Substituted by Act 3 of 2019.], as may be recommended by the Council:[Provided further that a person who opts to pay tax under clause (a) or clause (b) or clause (c) may supply services (other than those referred to in clause (b) of paragraph 6 of Schedule II), of value not exceeding ten percent of turnover in a State or Union territory in the preceding financial year or five lakh rupees, whichever is higher.] [Inserted by Act 3 of 2019.][Explanation. [Inserted by Act No. 3 of 2020.] - For the purposes of second proviso, the value of exempt supply of services provided by way of extending deposits, loans or advances insofar as the consideration is represented by way of interest or discount shall not be taken into account for determining the value of turnover in the State.] [Substituted by Act 3 of 2019, (w.e.f. 01.07.2017).]
