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composite scheme

Jahnavi (Article) (22 Points)

21 July 2017

if any one has opted for composition scheme while registering to portal and onwards he wants to go for voluntary basis as normal taxpayer, how can he change this?

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2 Replies

RAMESH D MODI (Proprietor) (4864 Points)
Replied 21 July 2017

by an application on the portal

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (161231 Points)
Replied 21 July 2017

Q. Can a person paying tax under composition levy, withdraw voluntarily from the scheme? If so, how?

Ans. Yes. The registered person who intends to withdraw from the composition scheme can file a duly signed or verified application in FORM GST CMP-04.

Every person who has filed an application for withdrawal from the composition scheme, may electronically furnish, a statement in FORM GST ITC-01 containing details of the stock of inputs and inputs contained in semi-finished or finished goods held in stock by him on the date of withdrawal, within a period of thirty days of withdrawal.