Composition to regular

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durgesh (Querist)
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02 April 2018 Dear Expert,
I am registered under composition scheme under gst but now i want to opt out from composition scheme, so please tell the the procedure and form which is required to submit. and also tell me how to deal with stock held as on date,
can i claim itc on stock held as on date of opt out from composition scheme.

please guide me.

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Guest (Expert)

02 April 2018 Yes you can claim credit held in stock.Refer composition rules for more details

durgesh

durgesh (Querist)
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02 April 2018 please explain how to calculate itc ?
suppose i am dealing in gold jwellery and my stock as on date of opt out from composition scheme is rs. 100000 then what amount of itc i can claim

durgesh

durgesh (Querist)
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03 April 2018 dear expert kindly reply

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