The Central Board of Indirect Taxes and Customs ("CBIC') vide its Circular No. 97/16/2019-GST dated April 05, 2019 which clarifies that applicability of Notification No. 02/2019-Central Tax (Rate) dated March 07,2019 which prescribes the rate of central tax of 3% on first supplies of goods or services or both upto an aggregate turnover of fifty lakh rupees made on or after the 1st day of April in any financial year, by a registered person whose aggregate annual turnover in the preceding financial year was fifty lakh rupees or below. The following are the clarification made regarding the applicability of said notification are as here under:-
• A registered person who wants to opt for payment of central tax @ 3% by availing the benefit of the said notification, may do so by filing intimation in the manner specified in sub-rule 3 of rule 3 of the said rules in FORM GST CMP-02.
• Any person who applies for registration and who wants to opt for payment of central tax @ 3% by availing the benefit of the said notification, if eligible, may do so by indicating the option at serial no. 5 and 6.1(iii) of FORM GST REG-01 at the time of filing of the application for registration.
• The option of payment of tax by availing the benefit of the said notification in respect of any place of business in any State or Union territory shall be deemed to be applicable in respect of all other places of business registered on the same Permanent Account Number and it shall be applicable from the beginning of the financial year or from the date of registration in cases where new registration has been obtained during the financial year.
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