change from composite to regular scheme
This query is : Open
18 September 2017
a dealer want to shift from composite scheme to regular scheme in gst , can he do in the middle of financial year 16-17, and what will be the impact on closing stocks on the change date.
18 September 2017
Yes he can shift to regular scheme in the middle of the year. He can claim ITC on stock held on switch over date.
18 September 2017
As GST is open for dealers who wants to opt for composition scheme. Date has been extended to 30th September 17
19 September 2017
suppose the dealer is presently in regular GST regn. and has filed return for the month of July 17 GSTR 3B and GSTR1, now can he opt for composite scheme. And what will the position of the stock held on the appointed date ie on the date of becoming GSTN regular dealer and on the date of change over ie from today 19.08.2017 to composite dealer.
19 September 2017
Following things you must keep in mind :
As GST portal is open for changing your status from regular to composition scheme up to 30 sep 17.
File all the necessary forms electronically.
Proper officer upon scrutinising your paper & finding them in order will issue order for shifting.
You will be within. composition scheme from 1st Oct 17
You will have to file return up to Sep 17
you will have to file stock statement within 30 days.
.
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