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composite scheme

shrikant (n/a) (3 Points)

08 June 2018

i hav taken gst registration for medical shop on march 18 but at that time we applied as regular business... now i want to convert into composite scheme.

is it possible to convert into composite scheme for current year?

how?

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3 Replies

Kalpesh (Chartered Accountant) (349 Points)
Replied 08 June 2018

Yes it is possible. You need to do it by logging into your GST A/c.

Vinod Babu (24196 Points)
Replied 08 June 2018

It is possible to change.
But the time limit for opting composition scheme for financial year of 18- 19 was closed on 31st march18.
So currently you can't opt composition scheme. You can continue with regular type and wait for the department notifications for changing to composition scheme thereafter...

Pankaj Rawat (GST Practitioner) (55062 Points)
Replied 08 June 2018

As per Rule 3, To switch from Regular dealer to Composit Dealer can done only start of FY, .. yes to switch from composit to regular can be done any time