conversion from regular to composition scheme

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266 Points Joined June 2009
earlier registered under vat act and migrate to gst under regular scheme but there after from 1st October convert from regular to composition scheme what are compliance to be followed and what to do with itc available on 30th September 2017 ?
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On 13 January 2018 at 15:28 Report
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1777 Points Joined September 2017

Once you shift from regular scheme to composition scheme, the ITC will lapse.

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On 14 January 2018 at 12:55
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266 Points Joined June 2009
ok. it can be refunded as carried forward from July to September
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On 14 January 2018 at 13:41
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1777 Points Joined September 2017

The ITC will lapse on migrating to composition scheme. Till then you must carry forwared the ITC.

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On 14 January 2018 at 13:46
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266 Points Joined June 2009
any form required to be fill up regarding this or it will automatically lapse
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On 14 January 2018 at 14:22


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