Biplab Mitra (Partner) (27 Points)
27 July 2017Is it possible to convert GST Normal Scheme to Composition Scheme or vice versa? ? If yes then how?
Mintu Shaw
(Assistant Accounts Manager)
(28 Points)
Replied 28 July 2017
CA Akhilesh Kumar Kandpal
(Proprietor A K Kandpal & Associates)
(1442 Points)
Replied 28 July 2017
Biplab Mitra
(Partner)
(27 Points)
Replied 29 July 2017
How is it possible sir? Can you tell me tehe steps please?
Biplab Mitra
(Partner)
(27 Points)
Replied 29 July 2017
How is it possible sir? Can you tell me tehe steps please?
CA Akhilesh Kumar Kandpal
(Proprietor A K Kandpal & Associates)
(1442 Points)
Replied 29 July 2017
jayesh pujara
(Partner)
(22 Points)
Replied 14 August 2017
CA Akhilesh Kumar Kandpal
(Proprietor A K Kandpal & Associates)
(1442 Points)
Replied 15 August 2017
umesh
(Student CA Final )
(147 Points)
Replied 02 September 2017
you mean to say that for new registration as of now it is not possible to get converted from normal to composition..
Then for example if any small retailer like kirana store gets new registration then till april of next year he will have to maintain all the records, he will have to file gstr 1, 2, and 3
but how is it possible sir?
pls guide onto this
Rohit Jangir
(2 Points)
Replied 13 February 2018
i am Already Last 3 year as composition dealer.
but by mistake my CA opt me as a regular dealer.
and
July to sept.
Oct to Dec.
GST has deposit on 1% on Quartely Sale..
Now i saw in Profile shown as a Regular Dealers.
How can solve this problems...............
CA Akhilesh Kumar Kandpal
(Proprietor A K Kandpal & Associates)
(1442 Points)
Replied 13 February 2018
did you file gstr 3b?I don't understand if you are regular dealer than how you were allowed to pay taxes @ 1%.
Kailasam Munisekhar
(8 Points)
Replied 29 May 2018
Can I opt-in for composition scheme anytime during the year?
No. Before the beginning of every financial year, a registered taxpayer is required to provide a declaration on the GST Portal. This cannot be done anytime during the year.
What will happen if I opt out of composition scheme mid-year?
When a dealer opts out of composition scheme all the normal rules are applicable from the day of opting out.
For example, a composition dealer opts out of composition scheme on 15th October 2017. This means that the dealer will have to file two GSTR-4 for the quarters July – September, and October (15 days). The dealer will also have to file GSTR-1, GSTR-2, and GSTR-3 for the period of October 2017 (sales from 15th October until end of the month)
Kailasam Munisekhar
(8 Points)
Replied 29 May 2018
Can I opt-in for composition scheme anytime during the year?
No. Before the beginning of every financial year, a registered taxpayer is required to provide a declaration on the GST Portal. This cannot be done anytime during the year.
What will happen if I opt out of composition scheme mid-year?
When a dealer opts out of composition scheme all the normal rules are applicable from the day of opting out.
For example, a composition dealer opts out of composition scheme on 15th October 2017. This means that the dealer will have to file two GSTR-4 for the quarters July – September, and October (15 days). The dealer will also have to file GSTR-1, GSTR-2, and GSTR-3 for the period of October 2017 (sales from 15th October until end of the month)
Kailasam Munisekhar
(8 Points)
Replied 29 May 2018
Can I opt-in for composition scheme anytime during the year?
No. Before the beginning of every financial year, a registered taxpayer is required to provide a declaration on the GST Portal. This cannot be done anytime during the year.
What will happen if I opt out of composition scheme mid-year?
When a dealer opts out of composition scheme all the normal rules are applicable from the day of opting out.
For example, a composition dealer opts out of composition scheme on 15th October 2017. This means that the dealer will have to file two GSTR-4 for the quarters July – September, and October (15 days). The dealer will also have to file GSTR-1, GSTR-2, and GSTR-3 for the period of October 2017 (sales from 15th October until end of the month)
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