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Form GST CMP03 See Rule Intimation of details of stock on date of opting for composition levy (Only for persons registered under the existing law migrating on the appointed day)1. GTIN 2. Legal name
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How to fill out form gst cmp-03 intimation

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How to fill out form gst cmp-03 intimation

01
Start by downloading the GST CMP-03 form from the official GST website.
02
Fill in the basic details such as GSTIN, legal name, and trade name.
03
Provide information about the effective date of opting for composition scheme.
04
Mention the turnover details for the previous financial year and projected turnover for the current financial year.
05
State the reasons for opting for composition scheme and provide any supporting documents if required.
06
Review the form to ensure all the information is accurate and complete.
07
Sign the form and submit it electronically through the GST portal.
08
After successful submission, download the acknowledgement receipt for future reference.

Who needs form gst cmp-03 intimation?

01
Any taxpayer registered under GST who wishes to opt for composition scheme needs to fill out form GST CMP-03 intimation. The composition scheme is designed for small businesses with a turnover below a certain threshold, allowing them to pay a fixed percentage of turnover as tax instead of regular GST rates.
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Form GST CMP-03 intimation is a form that needs to be filed by taxpayers who have opted for the composition scheme under GST.
Taxpayers who have opted for the composition scheme under GST are required to file form GST CMP-03 intimation.
Form GST CMP-03 intimation can be filled out online on the GST portal by providing the required information and documents.
The purpose of form GST CMP-03 intimation is to inform the tax authorities about the taxpayer's decision to opt for the composition scheme under GST.
Form GST CMP-03 intimation requires information such as taxpayer details, turnover, and composition scheme option chosen.
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