wrongly opted composition scheme for service providers @6% instead of 1%

Ravindra Mahale (Senior Accountant) (64 Points)

06 September 2019  
we run medical shop and we were voluntary registered as regular trader and file monthly returns. Now for fy 19 20 we decide to opt for composition scheme but wrongly we apply under 6% composition scheme instead of 1% scheme. now how to go in 1% composition scheme. any penalty we have to pay? what steps to correct pl suggest