Composition to General GST Scheme

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1 Points Posted on 20 December 2023
I have a proprietorship company' and registered for Composite GST. Now as I am starting exports, I need to change to general GST Scheme.
Is there any timeframe for this change? Note that changing from general to composite can be done only at end of financial year
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On 20 December 2023 at 15:43 Report
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Quick Summary
If you're a proprietorship company registered under the GST Composite Scheme and need to switch to the General Scheme for exports, you can do so at any point during the financial year. You'll need to intimate the authorities and ensure you have your IEC code. This change is crucial for exporting goods and has a specific timeframe of 7 days from exporting.

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Accountant
1227 Points Posted on 20 December 2023
Need to do within 7 days of exporting goods.

not at the end of financial year.
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On 20 December 2023 at 15:56
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"Do the Right Thing...!!!"
128162 Points Posted on 20 December 2023
@ Puja Singh,

You can Opt out from composition scheme from any point of time during a FY...
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On 20 December 2023 at 21:21
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Profession
28271 Points Posted on 21 December 2023
Filevsn intimation to the authorites get hold of the relevant documents. Iec code is important.
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On 21 December 2023 at 14:24

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