Section 10

(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 one crore and fifty lakh rupees, may opt to pay, in lieu of the tax payable by him, an amount calculated at such rate as may be prescribed, but not less than one per cent. of the turnover in State or turnover in Union territory in case of a manufacturer, not less than two and a half per cent. of the turnover in State or turnover in Union territory in case of persons engaged in making supplies referred to in clause (b) of paragraph 6 of Schedule II, and not less than half per cent. of the turnover in State or turnover in Union territory in all other cases, on all the taxable supplies of goods or services or both made by him.