Regulatory Updates
1. Opting-in for Composition Scheme for Financial year 2021-22 How to opt-in for Composition Scheme: The eligible registered taxpayers, who want to opt-in for composition scheme for the FY 2021-22, need to file FORM GST CMP-02 application, on or before 31st March, 2021, post login on GST portal.
2. Classification of Taxpayers: Taxpayers are required to select their business activity only once, as Manufacturer, wholesaler / Distributor / Retailer, service providers & others post login based on highest turnover amongst them. You can change the same later.
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