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Composition scheme

Ravi Chauhan (Inter CA) (126 Points)

26 February 2019

Application to opt for Composition levy will start from which date for financial year 2018-19?

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Pankaj Rawat (GST Practitioner) (55032 Points)
Replied 26 February 2019

No now for FY 2018-19 you cannot opt for composition scheme .
As per sub Rule (3) of Rule 3, can opt for composition scheme by filing CMP 03 online on portal prior to the commencement of Financial Year .

Note : Have to file ITC 03 also

Ravi Chauhan (Inter CA) (126 Points)
Replied 26 February 2019

from which date I will be able to opt for Composition scheme for financial year 2019-20???

Priya Kashyap (Student) (7048 Points)
Replied 26 February 2019

can only be done before Start of financial year

Still if for next FY 2019-20:
To opt for composition scheme a taxpayer has to file GST CMP-02 with the government. This can be done online by logging into the GST Portal.