Get the free composition levy - JioGST

Form GST CMP 01 See rule 3(1) Intimation to pay tax under section 10 (composition levy) (Only for persons registered under the existing law migrating on the appointed day) 1. GTIN / Provisional ID

How to fill out composition levy - jiogst

How to fill out composition levy - jiogst

1. To fill out composition levy under GST, follow these steps:
2. Log in to the GST portal using your credentials.
3. Go to the 'Services' tab and click on 'Returns' to access the returns dashboard.
4. Select the option 'Composition Levy (CMP-08)' under the 'Monthly Return (Regular)' section.
5. Fill in the required details such as GSTIN, Financial Year, Tax Period, etc.
6. Provide the details of your turnover, which includes both taxable and exempted supplies.
7. Enter the tax payable and the amount of tax paid through the composition levy.
8. Review the information provided and submit the form.
9. After successful submission, a confirmation message will be displayed along with an ARN (Acknowledgement Receipt Number).
10. Take a printout of the ARN or note it down for future reference.

Who needs composition levy - jiogst?

1. Composition Levy under GST is beneficial for small businesses and taxpayers with limited turnover. The following entities can opt for Composition Levy:
2. - Small businesses with an annual turnover of up to Rs. 1.5 crores (for Goods) or Rs. 50 lakhs (for Services).
3. - Retailers, traders, and manufacturers who deal with goods and have opted for this scheme.
4. - Businesses engaged in providing restaurant services (not serving alcohol) can also choose the composition scheme.
5. - Composition levy is not available for businesses engaged in inter-state supplies, e-commerce platforms, or export of goods/services.
6. - Taxpayers who opt for Composition Levy are subject to certain restrictions and cannot avail input tax credit.

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What is composition levy - jiogst?

Composition levy under the Goods and Services Tax (GST) is a simplified tax scheme for small businesses with an annual turnover up to a certain limit.

Who is required to file composition levy - jiogst?

Small businesses with an annual turnover below the specified limit are required to file composition levy under GST.

How to fill out composition levy - jiogst?

To fill out composition levy under GST, businesses need to provide basic details such as turnover, tax rates, and submit the required forms.

What is the purpose of composition levy - jiogst?

The purpose of composition levy under GST is to simplify the tax compliance for small businesses and reduce the tax burden.

What information must be reported on composition levy - jiogst?

Businesses filing composition levy under GST must report their turnover, tax rates, and other relevant details as required by the tax authorities.