GSTN allows Window to Opt-in for 2022-23

GSTN allows Window to Opt-in for 2022-23

A window has been opened through the Goods and Service Tax Network for the financial year of 2022-23 for members to opt for the composition scheme.

Before March 31, 2022, eligible taxpayers who want to opt-in for the composition may do so.

If you are a regular taxpayer with an aggregate domestic turnover calculated on the basis of your PAN, then you can elect to pay the Composition Levy under GST. It is not possible to opt for the Input Service Levy if you or your company supplies goods that are not taxable under this Act; interstate outward supplies; electronic commerce operators who are required to collect tax under Section 52; notified goods manufacturers; casual dealers; non-resident foreign taxpayers; person registered as Input Service Distributors (ISD); or person registered as TDS Deductor/Tax Collectors.

You can choose the composition levy using the GST portal by logging into the Taxpayers' Interface, going to Services > Registration > Application to Opt for Composition Levy, filling out the form and submitting it, following the specified procedure.