Sir, do we need to fulfill the conditions mentioned in 10(2) for previous financial year also or only for current financial year i.e. after opting the composition scheme.
I read an article regarding this topic, that is why I'm posting this query?
https://www.taxtmi.com/tmi_notes?id=295
Debate on Section 10(2) of CGST Act: Do conditions apply to past or current activities for composition scheme? A discussion on a forum addresses whether the conditions in Section 10(2) of the CGST Act need to be fulfilled for the previous financial year when opting for the composition scheme. One participant argues that the conditions apply only after opting for the scheme, not for the previous year. Another participant questions this interpretation, suggesting that eligibility to opt is based on past activities. The discussion highlights differing views on whether the conditions relate to past or current activities, with references to Rule 5(1)(e) of the CGST Rules and a specific notification for clarity on the threshold limit. (AI Summary)
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