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Once opted for composition, can an assessee get into regular scheme of GST

ROHAN PANDA (Not Yet) (87 Points)

26 July 2017

My client opted for Composition Scheme and applied for it. Now he wants to shift to regular scheme of GsT from composition scheme. how can he do so..??? Is there any procedure for that?

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11 Replies

Ananya Bansal (41 Points)
Replied 26 July 2017

you can opt for cancellation of composition scheme in form GST CMP 04 in gst portal.

RAMESH D MODI (Proprietor) (4864 Points)
Replied 26 July 2017

yes u can withdraw from composition anytime

CA Rashmi Gandhi (Chartered Accountant) (86220 Points)
Replied 26 July 2017

Yes you can withdraw.

mithun basak (4 Points)
Replied 26 July 2017

yes he can but there is not any form in gst portal yet

sourabh soni (Partner) (26 Points)
Replied 26 July 2017

Yes he can , even he is eligible to take credit of Gst on stock in hand

sourabh soni (Partner) (26 Points)
Replied 26 July 2017

Yes he can , even he is eligible to take credit of Gst on stock in hand

CA Rashmi Gandhi (Chartered Accountant) (86220 Points)
Replied 26 July 2017

Withdrawal facility will start soon.

Lava.p (student) (164 Points)
Replied 27 July 2017

if the person wanna shift from composition scheme to regular scheme he can do ! but when he wanna convert again to composition scheme

Lava.p (student) (164 Points)
Replied 27 July 2017

if the person wanna shift from composition scheme to regular scheme he can do ! but when he wanna convert again to composition scheme after completion of the FY and he should not without any stock and also should not have any inter state sale ....