Seeks to amend notification No. 02/2019- Central Tax (Rate) so as to provide for application of Composition rules to persons opting to pay tax under notification no. 2/2019- Central Tax (Rate) - 09/2019 - Central GST (CGST) Rate

Composition scheme applicability extended to certain opt-ins requiring payment of input tax credit equivalents and rules to apply mutatis mutandis.

Requires registered persons who availed input tax credit and opt to pay under the notification to debit an amount equivalent to input tax credit for inputs in stock, semi finished or finished goods in stock, and capital goods to their electronic credit or cash ledger, treat the supply as subject to the input reversal mechanism, and provides that any remaining balance in the electronic credit ledger shall lapse.