New Delhi, July 5 (KNN) The last date for availing the benefit of Alternative Composition Schemes has been extended from June 30, 2019 to July 31, 2019, the Ministry of Finance has said.

An alternative Composition Scheme has been made available to those suppliers of Services or Mixed Suppliers, who were not eligible for the primary composition scheme. Only those taxpayers are eligible for this Alternate Scheme whose annual turnover in the preceding financial year did not exceed Rs. 50 lakhs.

Tax payers who are willing to pay tax under this scheme will pay tax at the rate of 6% (3% GST +3%  SGST) of their turn-over.

The Last Date for registered persons for filing the intimation in FORM GST CMP-02 for availing the benefit of the Alternate Composition Scheme was fixed at 30.04.2019.

In the 35th Meeting of the GST Council held on 21.06.2019, it was recommended to extend the Last Day for filing. Accordingly, a Corrigendum date 01.07.2019 has been issued extending the Last Date for filing the Intimation for availing this benefit from 30.04.2019 to 31.07.2019.

Moreover the eligible taxpayers are encouraged to avail the benefit off the Alternate Composition Scheme by applying on or before 31.07.2019.