For opt in composition scheme for FY 19-20 should filll cmp 02 before 31-3-19
and gives a stock intimation in ITC 03 before 30-9-19
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composition opt in for FY 19-20
Replies (5)
As per Rule 3A of CGST Act , you are absolutely correct
Last date to file ITC 03 will be 30/9/19 if you file CMP 02 before 31/3/19
Last date to file ITC 03 will be 30/9/19 if you file CMP 02 before 31/3/19
Pankaj sir please elaborate
Dear Manoj
To switch from Regular to Composit scheme can be done only at beginning of FY (31/3/19) , as per section 18, The ITC is to be reverse in this case (Stock) & to file ITC 03 for reversal it's 180 days time Limit , hence the last date to file ITC 03 comes to 30/9/19
To switch from Regular to Composit scheme can be done only at beginning of FY (31/3/19) , as per section 18, The ITC is to be reverse in this case (Stock) & to file ITC 03 for reversal it's 180 days time Limit , hence the last date to file ITC 03 comes to 30/9/19
Is there any way to opt belatedly (After Mar19) for composition 2019-20.
good clarification and information
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