Government has extended the deadline till 16th of next month for small businesses to opt for the composition scheme in the Goods and Services Tax regime. Earlier, the small businesses with turnover of up to 75 lakh rupees had time till Saturday to opt for the scheme. <br/><br/>To opt for composition scheme, the taxpayer needs to log into his account at the GST Portal www.gst.gov.in and select Application to opt for the Composition Scheme under 'Services' menu. They have to fill up the Form GST CMP-01 to opt for the scheme.<br/><br/>Similarly, the taxpayers who were provisionally migrated by virtue of being registered under the existing laws, but are no longer required to be registered under GST, the period of applying for Cancellation of Registration is being extended upto 30th of September this year. Finance Ministry said, the relevant notifications in this regard are being issued.<br/><br/>