Composition scheme opt-in requires electronic intimation and ITC reconciliation, with cumulative input tax credit adjustment in the subsequent return. Registered persons opting for the composition scheme must electronically file an intimation on the common portal, verified electronically or through a notified Facilitation Centre, and furnish the prescribed ITC reconciliation statement by the specified deadline. The amendment requires cumulative application of the input tax credit condition for the specified months and mandates that the subsequent monthly return be furnished with the cumulative input tax credit adjustment for those months.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Composition scheme opt-in requires electronic intimation and ITC reconciliation, with cumulative input tax credit adjustment in the subsequent return.
Registered persons opting for the composition scheme must electronically file an intimation on the common portal, verified electronically or through a notified Facilitation Centre, and furnish the prescribed ITC reconciliation statement by the specified deadline. The amendment requires cumulative application of the input tax credit condition for the specified months and mandates that the subsequent monthly return be furnished with the cumulative input tax credit adjustment for those months.
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