New Delhi: Small businesses with turnover of up to Rs 75 lakh have time till July 21 to opt for composition scheme under the GST regime, GST Network said on Friday.
To opt for composition scheme, the taxpayer needs to log into his account at the GSTN Portal www.gst.gov.in and select ‘Application to opt for the Composition Scheme’ under ‘Services’ menu, a GSTN statement said.
“Any person who has been granted registration on a provisional basis and has turnover not exceeding Rs 75 lakh, and who wishes to opt for the composition levy, is required to electronically file an intimation, duly signed or verified through EVC, at the GST portal on or before July 21, 2017,” GSTN chairman Navin Kumar said.
Under this scheme, traders, manufacturers and restaurants can pay tax at one per cent, two per cent and five per cent, respectively in the GST regime.
