Conversion from composition scheme to Regular

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This query is : Resolved

Kapil Jain (Querist)

02 October 2017 Dear members, My client has opted for composition scheme in GST, but now due to some reasons he wanted to opt for Regular sheme. can he convert? if yes, pls tell he how to convert?

RAJA P M

RAJA P M (Expert)

02 October 2017 Yes... He can convert from Composition to Regular Scheme...

But, when he opt to Composition Scheme...?

Message likes : 1 times

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)

02 October 2017 Application to opt out from composition available at registration tab on gst website.

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CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)

02 October 2017 Fill the form & opt out of Composition.

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Kapil Jain

Kapil Jain (Querist)

02 October 2017 @Raja P M he has taken fresh registration under composition in August

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)

02 October 2017 Then also he can opt out of composition.

Message likes : 1 times

Kapil Jain

Kapil Jain (Querist)

02 October 2017 @Rashmi Gandhi thanks, but opting to out of composition, will he be automatically transferred to regular in GST or any new procedure to get in Regular sheme

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)

02 October 2017 Automatically transferred to regular scheme....

Kapil Jain

Kapil Jain (Querist)

02 October 2017 Thanks Rashmi ji

Message likes : 1 times

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)

02 October 2017 Welcome...... My pleasure.....

RAJA P M

RAJA P M (Expert)

02 October 2017 @ Mr Kapil Jain...
I don't know exactly its converted immediately...
Bcoz, You can first file CMP-04 for opt out composition... Also Dept ll approved/Rejected then you can get CMP-07.
So, After approved you can continue to RD...

(Also It's new for all. So, You can try these steps. And contact your local Circle office)

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)

02 October 2017 No need to contact anyone. Simply fill the date in CMP-04 from which you want to opt out & you will be out from Composition.

RAJA P M

RAJA P M (Expert)

02 October 2017 Then Why CMP-07 form...?

RAJA P M

RAJA P M (Expert)

02 October 2017 Also based on Rashmi ji reply,
They need file returns on Jul to Sep or not...???

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)

02 October 2017 Nothing like that is available now on GST portal .

Mayur

Mayur (Expert)

03 October 2017 I endorse Raja P M's View. everyone knows the option is available on portal now but no one knows the reply to multiple scenarios: 1. what about the return filling for July to September? 2. how to get credit of stock on hand on the date of opting out of composition? 3. what if the application for opting composition is rejected? and many more. it's not as simple as filling a form. So better to get in touch with circle office.

RAJA P M

RAJA P M (Expert)

03 October 2017 I agreed to Mr Mayur., Exactly view.... It's new to all. We can't get any confirmation without experience...

Aashok Kumar Sharma online

Aashok Kumar Sharma

(Expert)

31 October 2026 On withdrawal by CMP-04, you can claim ITC on inputs in stock, semi-finished and finished goods, and on capital goods (reduced by 5 percentage points per quarter), held on the day before withdrawal, by filing Form GST ITC-01 within 30 days.

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