Posted on by abhishek

Mid year Any time Availment of Composition Scheme opened till 31-03-2018 vide Notification 45/2017 dtd 13-10-2017 vide Para 2(i)

The above availment of Composition Scheme is available from Ist day of the each month immediately succeeding the month in which intimation of opting for Composition Scheme is filed in GST CMP-02. This amendment has been brought by substituting Rule 3(3A).

 

Further the above,  option is available to :

  1. Persons who have been granted provisional registration for migration from existing law u/R 24 OR
  2. Persons who have been granted final certificate of registration GST REG-06 under Rule 10(1)

 

In old Rule 3(3A) inserted by Notification 34/2017 dated 15-09-2017, the option was available to :

  1. a) Persons who have been granted provisional registration for migration from existing law u/R 24 OR
  2. b) Persons who have applied for registration u/R 8(1) by declaring his Permanent Account Number, mobile number, e-mail address, State or Union territory in Part A of Form GST REG-01

 

Further in old Rule 3(3A) the mid year option was available only till 30-09-2017.

 

Hence now composition scheme can be availed by

Migrated Persons granted provisional registration u/R 24 could apply in

  1. GST CMP-01 till 21-07-2017 which was later extended to 16-08-2017 [Rule 3(1)]. Stock details in GST CMP-03 is required to filed in such cases as per R.3(4) in 60 days (extended to 90 days) from date of exercise of option. Even if CMP-01 is filed after appointed day i.e. 22-06-2017, still only bill of supply to be issued.
  2. Making fresh application of Registration in Part A of GST REG-01by declaring his Permanent Account Number, mobile number, e-mail address, State or Union territory [R.3(2)].
  3. Making of option before commencement of financial year[ R.3(3)]. Stock Detail in GST ITC-03 is required to be filed in such cases with in 60 days from the commencement of financial year i.e. till 31May.
  4. In the middle of the year till 31-03-2018 only effective from Ist day of month following the month of option [R.3(3A)] . Stock detail in GST CMP-03 to be filed in 90 days from day on which persons starts payment of tax in composition scheme.

 

After furnishing GST ITC-03, TRAN-01 is not permitted to be furnished.

 

 

Hence GST CMP-02 is applicable both for Rule 3(3) and Rule 3(3A) for which suitable amendment has been made in Form GST CMP-03 by Para 2(v) of NN 45/2017 dated 13-10-2017