Composition scheme


(Querist)
16 April 2019
in fy 2018-19 there is closing stock 50 lacs itc is nill . can i take composition scheme for gst. my turnover is less than 1 crore


CA Anita Bhadra (Expert)
16 April 2019
You could opt for composition scheme ( subject to other conditions u/s 10 ) as your turnover is less that Rs 1.5 crores ..

But the option for the FY 2019-20 was open till 31st March 2019 only

The registered persons need to file GST CMP 02 viz Intimation to opt for composition scheme- before 31st March 2019, the deadline, to opt in for Composition levy for FY 2019-20


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