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switch to composition scheme

ITC / Input 258 views 2 replies
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116 Points Posted on 19 July 2018
what a person has to do when he switch from composition scheme ? his ledger will not show any ITC then further how he will take benefit of it
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On 19 July 2018 at 22:15 Report
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GST Practitioner
55067 Points Posted on 19 July 2018

In case of opting out from composition scheme  Registered person can  file ITC 01, to avail the ITC on inputs/capital goods as on the day immediately preceding the day in which he opts out from composition

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On 19 July 2018 at 22:29
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24196 Points Posted on 19 July 2018
Yes, you are eligible for input tax credit on inputs held in stock and inputs contained in semi-finished or finished goods held in stock as on date on which you have converted yourself from composition scheme to regular scheme.
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On 19 July 2018 at 23:41


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