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

GSTN - window - opt in - composition scheme - FY 2022-23 - Taxscan

The Goods and Service 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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