composition scheme

For persons already registered under old laws and now want to register under the Composition scheme under GST

Any person being granted registration on a provisional basis (registered under VAT Act, Service Tax, Central Excise laws etc) and who opts for Composition Levy shall file an intimation in FORM GST CMP-01, duly signed, before or within 30 days of appointed date. If intimation is filed after the appointed day, the registered person:

• Will not collect taxes
• Issue bill of supply for supplies

FORM GST CMP- 03 must also be filed within 60 days of exercise of option:

• Details of stock
• Inward supply of goods received from unregistered persons held by him on the date preceding the day of exercise of option