Can a manufacturer of Concrete Blocks having a turnover of below Rs.50 Lakhs per annum, who already migrated to GST Regular Scheme, now wants to opt for Composition scheme under GST, can he do so, if yes what is the procedure?
Can a manufacturer of Concrete Blocks having a turnover of below Rs.50 Lakhs per annum, who already migrated to GST Regular Scheme, now wants to opt for Composition scheme under GST, can he do so, if yes what is the procedure?
YES.
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:
a) Will not collect taxes
b) Issue bill of supply for supplies
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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