composition scheme

Any GST registered taxpayer who want to opt for the Composition schemefor FY 2018-19;

31st March 2018 is the deadline to file the intimation in Form GST CMP-02 to opt into composition scheme for the FY 2018-19.

You can opt for composition anytime but same is allowed to you from next month... I.e if you opt today you are in composition scheme from may....


Also you have to fill CMP-02... on opting composition....

As per Rule 3 CGST

3] Any registered person who opts to pay tax under section 10 shall electronically file an intimation in FORM GST CMP-02, duly signed or verified through electronic verificationcode, on the common portal, either directly or through a Facilitation Centre notified by theCommissioner, prior to the commencement of the financial year for which the option topay tax under the aforesaid section is exercised and shall furnish the statement in FORMGST ITC-03 in accordance with the provisions of sub-rule [4] of rule 44 within a periodof sixty days from the commencement of the relevant financial year.

As per rule also to opt for composition fro. regular , it has to be intimate prior the commencent of fy, & it true , as i myself tried one of client to change from regular to composit dealer last week but its not allowing me to do so.

I also opt one of my client last week....

How it's possible....

New notification issued to opt composition anytime during the year.....

But its also in Act under rule mention above

Yes earlier rule was to opt at beginning of year but now you can opt any time...

@ CA Rashmi

I have just try now to shift my client from regular to composit secheme , its not doing & the Error Display , "Cant opte for composition Levy for 2018-19"
So the portal is also follow the Rule

Actually in last financial year the limit (turnover) for composite was being frequently changed by council , in that scenario they might given leverage for opting of composition scheme any time, any day.

Yes I checked today & that option is closed now.....