Ad Free CAclubindia and Daily Updates on your Mobile. Subscribe Now!

composition scheme renewal

MURALISANKAR KANDASWAMY (210 Points)

18 March 2019

in gst composition scheme have to renewed every year?
plz confirm sir

Reply
Follow
Share

4 Replies

Saravana kumar (Tax Consultant) (170 Points)
Replied 18 March 2019

NO need of Renewal for every year, Once opted it does not require the filing of a fresh application every year.

But once crosses the Aggregate turnover limit, then they have to transit to Normal Scheme.

Upgrade to CAclubindia Pro. Subscribe Now!

Shivam RC (Student) (23683 Points)
Replied 18 March 2019

As per sub rule (2) of Rule (5) of the CGST Rules 2017, persons who are paying tax under section 10 [ Composition Scheme ] are not required to make a Fresh intimation every year to opt in the Scheme.

So no fresh intimation ( in FORM GST CMP-02 ) is required to opt for Composition Scheme for FY 2019-20 if you were registered as a Composite Dealer in FY 2018-19.

Regards.

1 Like