How to differentiate Timely Refunds Mechanism with Validity of composition levy?
Difference between Validity of composition levy and Timely Refunds Mechanism under GST terms
What is Timely Refunds Mechanism? How does Validity of composition levy work under GST regime? What are the difference between Timely Refunds Mechanism and Validity of composition levy?
Under GST system, the following information explains about Timely Refunds Mechanism and Validity of composition levy.
As per GST terms, Under Refunds Mechanism, any person claiming refund of any tax and interest, if any, paid on such tax or Refund of tax. any other amount paid by him, may make an application before the expiry of two years from the relevant date in such form and manner as may be prescribed. Under Validity of composition levy, the registered person who intends to withdraw from the composition scheme shall, before the date of such withdrawal, file an application in FORM GST CMP-04, duly signed or verified through electronic verification code, electronically on the common portal.
The details about Timely Refunds Mechanism and Validity of composition levy with simple language from GST terms have been mentioned in this web blog separately. We suggest you to read these articles on Timely Refunds Mechanism and Validity of composition levy, so as to enable you to have a clear idea on these GST terms.
For your immediate reference, we give below web links on Timely Refunds Mechanism and Validity of composition levy separately below. You may kindly read the below links to know more about Validity of composition levy and Timely Refunds Mechanism.
Timely Refunds Mechanism under GST
Meaning of term Validity of composition levy under GST
The above information easily explains about Validity of composition levy and Timely Refunds Mechanism.
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