GST Composition Scheme: GSTN enables Window to Opt-in for FY 2022-23

20-Feb-2022 Admin 2 GST Composition Scheme, GSTN, Goods And Services Tax, GST 146 Views

The Goods and Services Tax Network has enabled the window to opt in for composition scheme for the Financial Year 2022-23.

The eligible taxpayers who avail the composition scheme may opt in for composition before March 31, 2022.

You can opt for the Composition Levy under GST if you are a regular taxpayer with an aggregate annual domestic PAN-based turnover as specified from time to time. However, you cannot opt for the Composition Levy if you are/you make any supply of goods which are not liable to be taxed under this Act; inter-state outward supplies of goods; supplies through electronic commerce operators who are required to collect tax under section 52; a manufacturer of notified goods; a casual dealer; a Non-Resident Foreign Taxpayer; a person registered as Input Service Distributor (ISD); and a person registered as TDS Deductor/Tax Collector.

To opt for the Composition Levy, perform the following steps on the GST portal log in to the Taxpayers’ Interface, then Go to Services > Registration > Application to Opt for Composition Levy, and Fill the form as per the form specification rules and submit.

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