Composite to Regular Scheme Conversion

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

Replies (4)
Quick Summary
A business registered under the composite scheme wants to switch to the regular scheme from a previous quarter because customers are requesting input tax credit (ITC). While it's generally not possible to change GST schemes retrospectively, the discussion explores options for making the change and whether revised returns can be filed. The consensus suggests that retrospective changes and invoice amendments for past quarters are unlikely, but opting out of the composite scheme is possible at any time.

In my view it's not possible to change the invoice for 2nd and 3rd quarter
Can opt out any time. necessary forms to be filled. can claim I t c on stock
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
No, you can't

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