Application to opt for composition levy.....

GST department will declare the option to choose the composition scheme (for next FY) before April,  mostly in the moth of March.

In Form CMP-03, taxpayers have to provide details of:

• The stock of purchases made from registered persons (Name and GSTIN of the supplier, bill/invoice number and date, value of stock, applicable VAT/Central Excise/Service Tax).
• The stock of purchases made from unregistered persons (Name and address of the unregistered person, bill/invoice number and date, value of stock, applicable VAT/Central Excise/Service Tax).
• Tax paid (Amount of Central tax, State tax/UT tax and debit entry number)

Along with the stock details, this form asks for the following basic information:

• GSTIN of the taxpayer
• Legal name/Trade name
• Address of the principal place of business
• Details of the application filed for opting into the Composition Scheme:
  • Application Reference Number
  • Date of filing the application