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GST COMPOSITION SCHEME
Can I convert GST regular to composition scheme for financial year 2020-21 now?
Replies (2)
No. Time limit was extended till 30 June 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.
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.
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