My client is a composition Dealer From beginning of GST..Now he wants to become a Regular Dealer..He has filed all Returns upto 30 June 2020..He wants to change w.e.f 01 July 2020...Is it possible...My queries and doubts are :-
1..How to Apply.
2.Whether it is possible in the mid of this year.
3.What will happen of stock in hand on 30 june...Any Reporting of the same is to made..
4..Today is 11 July whether Application can be made to get effect from 1 July 2020
Deae EXPERTS Please guide and help .Thanks
5 Replies
Pawan Vemula
(284 Points)
Replied 11 July 2020
You Can't Go Composition To Regular In Middle Of The Year ,
Extreme Perfection
(19 Points)
Replied 11 July 2020
You can't convert from composition to regular now, will have to wait for next fy
SHIVAM SHARMA
(Accountant)
(53 Points)
Replied 11 July 2020
If turnover exceeds the prescribed limit, he will automatically converted into regular scheme and an intimation is to be given in such case.
Vijayprakash P
(1313 Points)
Replied 11 July 2020
At first you should file an intimation in form GST CMP04.Then you should intimate stock of material prior to that date in Form ITC01.
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