The Central Government today extended the time limit for filing intimation for composition levy for the small businesses with a turnover of up to Rs 75 lakh under the Central Goods and Services Tax Act.
Earlier, the GSTN Network today said that can opt for composition scheme under the Goods and Services Tax regime till July 21. This has been now extended to 16th August 2017.
Under the composition levy scheme, traders, manufacturers, and restaurants whose annual turnover is below 75 lakhs can pay tax at one percent, two percent and five percent, respectively in the new Goods and Services Tax (GST) regime.
In order 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.
Read the full text of the Circular below.
