Deepak Gupta | Jul 23, 2017 |
Time limit for Filing Intimation for Composition Levy Extended
Government has extended the time limit for filing intimation for composition levy for the small businesses having turnover up to Rs 75 lakh under the Central Goods and Services Tax Act.
Date for composition scheme levy under the Goods andServices Taxregime has been extended form July 21. to 16th August 2017.
Under the composition scheme, traders, manufacturers and restaurants whose annual turnover is below 75 lakhs can pay tax at one per cent, two per cent and five per cent, respectively in the new Goods and Services Tax regime. To avail the benefit of the scheme, the traders had to file intimation in Form GST CMP-01 to the Government before the due date.
Below is extract of Official Notification
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 subrule (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.
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(Upender Gupta)
Commissioner (GST)
To download Notification Click Here
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