In a major relief to small traders, the Central Government today extended the time limit for intimation of details of stock held on the date preceding the date from which the option for composition levy is exercised in FORM GST CMP-03 to 31st January 2018.
Under GST, after opting into Composition Scheme, a taxpayer has to intimate the government about the stock held by them on the day of opting into the scheme. The stock details have to be provided in Form GST CMP-03.
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