Can an assessee change from normal Vat scheme to composition scheme and vice versa in the same financial year?
Yogesh Bhandari
(CA FINAL Student)
(429 Points)
Replied 31 December 2011
yes, an assessee change from normal Vat scheme to composition scheme and vice versa in the same financial year. In both cases, An intimation to the Department would be required.
Harshal Fifadra
(Chartered Accountant)
(1489 Points)
Replied 02 January 2012
Agree with YOGESH BHANDARI .
nikhil shah
(shahbhai)
(63 Points)
Replied 02 January 2012
No, the assessee can not chage second one . if assessess can change from normal vat scheme to composition scheme in the financial year then for that financial year he can not change vice versa from composition scheme to normal vat scheme. once he has accepted the composition scheme then he has not to maintain details accounts , he has to maintain only sale and purchase accounts only
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