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GST COMPOSITION SCHEME

Nitin Bathwal (Student) (24 Points)

11 October 2020

Can I convert GST regular to composition scheme for financial year 2020-21 now?

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Sargam Bhargava (CA M.COM and B.COM (Hons) ) (62 Points)
Replied 11 October 2020

No. Time limit was extended till 30 June 2020.

Shivam RC (Student) (23683 Points)
Replied 12 October 2020

No Sir, the due date is gone. The due date to opt for Composition Scheme for FY 2020-21 was 30th June 2020 as per Notification No. 30/2020 - Central Tax, dated 03rd April 2020.

Usually you need to opt for Composition at the beginning of the Financial Year. But for FY 2020-21, a relaxation was provided to the taxpayers by extending the due date of opting for Composition Scheme from 31st March 2020 to 30th June 2020 due to the COVID-19 pandemic vide Notification No. 30/2020 - Central Tax, dated 03rd April 2020.