Quick Summary
The Goods and Services Tax Network (GSTN) has announced that taxpayers can opt for the Composition Scheme for the financial year 2025-26 by filing Form CMP-02 on the GST Portal. The opt-in window will be open from February 4 to March 31, 2025. How to Apply for the Composition Scheme? Eligible ta
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FAQ :
Taxpayers can apply for the GST Composition Scheme for FY 2025-26 from February 4, 2025, to March 31, 2025.
Taxpayers need to file Form CMP-02 on the GST Portal to opt for the Composition Scheme.
Businesses with an aggregate turnover up to ₹1.5 crore are eligible. For select states, the limit is ₹75 lakh.
The scheme offers lower tax rates, simplified compliance, quarterly tax payments, and reduced paperwork.
Yes, taxpayers already registered under the Composition Scheme must also file CMP-02 within this period to continue their enrollment for the next financial year.
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