TIME LIMIT TO OPT FOR COMPOSITION
SCHEME UNDER GST EXTENDED UPTO
16TH AUGUST 2017
The Goods and Services Tax Act, 2017 came into force with
effect from 1.7.2017.
The effective date of coming into force of Central Goods and
Services Tax Act, 2017 and Integrated Goods and Services Tax Act, 2017 were notified
as 22.6.2017 and option to pay tax under the Composition scheme has to be filed
before 22.7.2017 by filing of intimation FORM GST CMP-01. The time limit for
filing of intimation to opt for composition scheme extended up to 16th August, 2017.
Similarly, the taxpayers who were provisionally migrated by
virtue of being registered under the existing laws, but who are no longer
required under GST, the period of applying for cancellation of registration is
being extended up to 30th September, 2017.
The relevant Press Release is given below for ready
reference.
PRESS RELEASE
22nd July,
2017
On concerns of taxpayers arising from transition to
the GST regime
Government is mindful of the concerns of tax payers, especially the small taxpayers, arising
from transition to
the GST regime from 1st of July, 2017.
2. With a view to ease the compliance burden of provisionally migrated small taxpayers opting to pay tax under the Composition scheme, it has been decided to extend the time limit
for filing intimation for Composition levy (filing of intimation FORM GST CMP-01) up to
16th August, 2017.
3. Similarly, the taxpayers who were provisionally migrated by virtue
of being registered under the existing laws, but who are no longer required to be registered under GST, the period of applying for cancellation of registration is being extended up to 30th September, 2017. Relevant notifications are being issued.
F. No. 345/114/2017-GST Government of India Ministry of Finance
Department of Revenue
Central Board of Excise and
Customs
GST Policy Wing
***
New Delhi, the 21st July, 2017
Order No. 01/2017-GST
Subject: Extension of time limit for filing intimation for composition
levy under sub- rule (1) of rule
3 of the CGST Rules, 2017
In exercise of the powers conferred by section 168 of the Central Goods and Services
Tax
Act, 2017, the Board hereby extends the period for filing an intimation in FORM GST
CMP-01 under sub-rule (1) of rule 3 of the Central Goods and Services Tax Rules, 2017 upto
16th August, 2017.
-sd-
(Upender
Gupta) Commissioner (GST)