Composition scheme opt-in extended for fiscal year; cumulative input tax credit condition applies across specified months with return adjustment. Registered persons opting for the Composition Scheme for financial year 2020-21 must electronically file FORM GST CMP-02 on the common portal, duly verified, by the extended date and furnish FORM GST ITC-03 as provided in sub rule (4) of rule 44 by the prescribed extended deadline. Rule 36(4)'s input tax credit condition shall apply cumulatively for February through August, 2020, and the return in FORM GSTR-3B for the tax period of September, 2020 shall be furnished with the cumulative adjustment of input tax credit for those months in accordance with that condition.
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Provisions expressly mentioned in the judgment/order text.
Composition scheme opt-in extended for fiscal year; cumulative input tax credit condition applies across specified months with return adjustment.
Registered persons opting for the Composition Scheme for financial year 2020-21 must electronically file FORM GST CMP-02 on the common portal, duly verified, by the extended date and furnish FORM GST ITC-03 as provided in sub rule (4) of rule 44 by the prescribed extended deadline. Rule 36(4)'s input tax credit condition shall apply cumulatively for February through August, 2020, and the return in FORM GSTR-3B for the tax period of September, 2020 shall be furnished with the cumulative adjustment of input tax credit for those months in accordance with that condition.
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