I am a migrated and newly registered taxpayer. I am not able to opt for Composition Levy for financial year 2017-18. Why?
As per GST Act, migrated taxpayers were permitted to opt for Composition Levy within 30 days from the Appointed Date. But later, the date for opting for Composition Levy was extended to 16th Aug’ 2017.
GST council had further extended the facility to opt for Composition Levy by migrated taxpayer and newly registered taxpayers, for current financial year from 15th Sep’17 to 30th Sep’17 and the composition shall become effective from 01st Oct’17.
Since the date to apply for Composition Levy for the current financial year 2017-18, as prescribed by Government has lapsed, you cannot opt for Composition Levy now.