TOCS

The scheme aims to enable eligible GST taxpayers to opt for the Composition Scheme for simplified tax compliance and payment under the Goods and Services Tax (GST) regime.

The "To Opt Composition Scheme" is a centrally sponsored scheme implemented by the Finance Department, Government of NCT of Delhi, which aims to enable eligible GST taxpayers to opt for the Composition Scheme through a simplified tax payment and compliance mechanism under the Goods and Services Tax (GST) system. Eligible new and existing taxpayers can apply online through the GST Portal by submitting the prescribed application form. Existing taxpayers must submit the application before the commencement of the relevant financial year. Applicants are also required to file Stock Intimation within 30 days from the date of opting for the Composition Levy. Composition taxpayers are required to file the prescribed quarterly statement and annual return under GST.

• The applicant must be a regular GST taxpayer.
• The applicant must have an aggregate annual domestic PAN-based turnover within the limit specified from time to time under GST.

• New Taxpayers: Any person who becomes liable to register under GST Act, after the appointed day, needs to file his option to pay composition amount in the Application for New Registration in Form GST REG-01.

• Existing Taxpayers: Any taxpayer who is registered as normal tax payer under GST needs to file an application to opt for Composition Levy in Form GST-CMP-02 at GST Portal prior to the commencement of financial year for which the option to pay tax under the aforesaid section is exercised.

• Simplified GST Compliance: Eligible taxpayers can opt to pay tax under the Composition Scheme instead of the regular GST scheme, enabling a simpler tax payment and compliance process.