Parpose composition

Hi Mandeep
The availment of scheme for composition is to be decided on the beginning of financial year. You can not opt composition scheme during the yaer. so you can opt composition scheme in the next financial year.
And the procedure to opt composition is :-
you have to fill GST CMP-02 application.
Once CMP-02 application is filed, the composition scheme shall be available to the taxpayer w.e.f. 1st April.
The taxpayers who were a regular taxpayers in previous financial year but are opting-in composition scheme for 2020-21 should file ITC-03 for reversal of ITC credit on stocks of Inputs, semi-finished goods and finished goods available with him.

Hi Mandeep, Persons having turn over of Rs.1.5 Crore vide CGST amendment act in the previous financial year shall eligible to opt Composition scheme. You must opt to the scheme with starting of every financial year.Once the person crosses the threshold limit, the composition scheme option shall lapse and it will then operate like a regular taxpayer. All registered persons having same PAN must opt for the Composition scheme. The composition tax payer should not engaged inter-state outward supplies. He must not make supply through commerce operator. He can make inter-state purchases. He must mention the words 'composite tax person', not eligible to collect tax on supplies at the top of the Bill of supply issued by him. Persons opting for this scheme shall file GST CMP-01 on the common portal. Composition dealer must file quarterly return GSTR4.He must also file an annual return in Form GSTR9A. He shall pay tax under reverse charge under 9(3) or 9(4)on the inward supplyof goods or services or both received.