Switch over to Composition Scheme

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komal ameta (Querist)
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17 February 2025 Dear Experts,

If we switch to composition sceme from a regular tax payer scheme, what will be the steps we need to follow in case we have exempted outward supplies. We have reversed all our ITC till date.

Kindly reply for the steps we need to take and and the things we need to specifically take care in the procedure.

Thank you in advance, it is a great platform for seeking valuable advice.

ASHWANI DHANUKA

ASHWANI DHANUKA (Expert)
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18 February 2025 File GST CMP 02 by 31.03.2025
Reverse ITC contained in Stock as per the formula prescribed in act . By 31.03.2025
File Form GST ITC 03 for declaring IT Reversed. By 30.05.2025

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