Customer Care
askus@india-gst.in

Option to opt out of Composition Levy

Now option has been provided for the taxpayer to Opt out of the Composition Levy. It is now made available in the Registration Menu.

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GST Tip – 305

As per Sub-section 2 of section 29 of the CGST Act, the proper officer may cancel the registration of the taxpayer who is registered under composition scheme if he has not furnished returns for three consecutive tax periods.

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GST Tip – 304

As per Sub-section 2 of section 29 of the CGST Act, the proper officer may cancel the registration of a tax payer who is not registered as composition tax payer if he has not furnished returns for a continuous period of six months.

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GST Tip – 298

As per Rule 46 of the CGST Rules 2017, a registered tax payer, other than a composition taxpayer can issue a consolidated tax invoice at the end of the day for all the transaction where tax invoices are not issued for a value less than Rs 200 per transaction.

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GST Tip – 294

In Section 5 of the GSTR – 3B, inward supplies for interstate and intra-state has to be shown for supplies from composition taxpayer, exempted and NIL rated supplies along with Non-GST supplies have to be shown at the summary level only.

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