FAQ – 11

FAQ 11 : As a registered taxpayer which Annual Returns i have to file if i have migrated from Composition Scheme to Regular Scheme due to the increase in my turnover? Do i need to file Annual Return as Regular Tax Payer or Composition Tax Payer or both?

Annual Returns for the Regular Scheme and Composition Scheme are to be filed by the taxpayer for the relevant periods.

• Annual Return during the period as Regular Taxpayer Form GSTR – 9

• Annual Return during the period as Composition Taxpayer Form GSTR – 9A

GST Tip – 225

As per Composition Rules, a taxpayer registered under composition scheme is required to file FORM GST CMP-04 if he ceases to follow any of the rules as per the act or rules within 7 days of such event and then issue a regular tax invoice.

GST Tip – 224

As per the Composition Rules, every person registered under composition scheme should mention “composition taxable person” on every notice or signboard displayed at a prominent place at his principal place of business and at every additional place or
places of business.

 

GST Tip – 223

As per the Composition Rules, a person is not eligible to take registration under the composition scheme if he is required to pay taxes under reverse charge on the closing stock or if he is having goods imported from any place other the state outside the state from where is he opting to take registration under composition scheme.

GST Tip – 222

As per the Composition Rules, a person who is registered as a casual taxable person or non-resident taxable person cannot apply for registration under GST for composition taxpayer.

GST Tip – 221

As per Composition Rules, the person who wants to pay tax under Composition Scheme has to file FORM GST ITC-3 for within 60 days to identify and pay the amount of ITC to be reversed on the closing stock of finished goods, capital goods or inputs, semi-finished goods on which input tax credit has bee availed.

GST Tip – 220

As per the Composition Rules, any taxpayer who has been provided provisional registration, have to file an intimation in FORM GST CMP-01 if he opts to pay tax under composition scheme on the common portal or through GST facilitation center notified by the commissioner prior to appointed day or within 30 days from appointed day.

GST Tip – 219

As per the Composition Rules, every person registered as Composition person under GST on the bill of supply issued by him has to mention the words “composition taxable person, not eligible to collect tax on supplies”