How To Apply For GST Composition Scheme/
Composition Scheme Eligibility:
You can opt for the Composition Scheme if you are a regular taxpayer with an aggregate annual domestic PAN-based turnover within specified limits.
You cannot opt if you engage in certain activities, such as inter-state outward supplies, electronic commerce operations, manufacturing of notified goods, etc.
Applying for Composition Scheme:
Log in to the GST portal.
Navigate to Services Registration Application to Opt for Composition Levy.
Fill the form according to specifications and submit.
Conversion from Regular to Composition Scheme:
File an application - Form GST-CMP-02 on the GST portal before the commencement of the financial year.
When to Opt for Composition Levy:
New taxpayers: File the option in the Application for New Registration - Form GST REG-01.
Existing taxpayers: File application - Form GST-CMP-02 prior to the commencement of the financial year.
Renewal for Existing Composition Taxpayers:
No fresh application is needed for those already availing the composition scheme.
Stock Intimation:
Mandatory to file details of stock, including inward supply, within 30 days of opting for Composition Levy.
Not subject to approval but incorrect details can lead to demand proceedings.
Saving the Application:
Application can be saved for up to 15 days, accessible through the My Saved Applications functionality.
Composition Levy for Services:
Yes, you can opt for Composition Levy even if you deal in services from FY 2019-20 onwards.
Rejection of Application:
If you filed GSTR-1 or GSTR-3B for specific months in FY 2019-20, your Composition Levy application may be rejected.
Returns for Composition Taxpayer:
Quarterly payment and statement in FORM GST CMP-08.
Annual return or part thereof in FORM GSTR-4.
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