Composite to Regular Scheme Conversion

185 views 4 replies
User Avatar

Business
28 Points Joined June 2017

Hi,

Firm was registered in the second quarter under composite scheme and bill raised to customer showing as total bill value. Filing done in composite scheme in 2nd and 3rd quarter, but customer is asking for their input credit, explained to the customer but not accepting. Hence, would like to change from Composite scheme to regular scheme. Is it possible to change from 2nd quarter in regular scheme and do revised return or else i can make changes only in 4th quarter. Please guide, what to do....

Regards,

Mallika.P

0 Reply Share Follow
On 09 April 2021 at 23:00 Report
Replies (4)
User Avatar

2742 Points Joined October 2018
In my view it's not possible to change the invoice for 2nd and 3rd quarter
Reply
On 09 April 2021 at 23:29
User Avatar

1011 Points Joined August 2017
Can opt out any time. necessary forms to be filled. can claim I t c on stock
Reply
On 10 April 2021 at 02:21
User Avatar

309 Points Joined June 2017
No, you cannot take retrospective registration in GST. However, in your case if we presume that its possible then, your customer will have to pay for the gst amount in order to avail ITC, and the position for that customer remains same
Reply
On 10 April 2021 at 08:34
User Avatar

Chief Accountant
3150 Points Joined July 2020
No, you can't
Reply
On 11 April 2021 at 02:27


CCI Pro

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Threads

More recent discussions | Post

Related Threads
Loading