Composition scheme under section 16 requires specified registration applications and prescribed forms with annual election and revocation deadlines. The Composition Scheme under section 16 requires dealers registering under section 19 to declare their intention to opt for composition; dealers on ... Summary
Composition scheme under section 16 requires specified registration applications and prescribed forms with annual election and revocation deadlines.
The Composition Scheme under section 16 requires dealers registering under section 19 to declare their intention to opt for composition; dealers on standard rates may elect composition from the start of the following year by filing Form DVAT-01 within thirty days; eligible persons must file Form DVAT-02 with particulars of trading stock and inputs liable under subsection (6); revocation of the option requires Form DVAT-03 within thirty days from the first day of the following year; dealers covered by subsection (10) must notify the Commissioner using Form DVAT 03A.
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