converting compound to regular

next financial year

You can Switch over from Composite scheme to Regular Scheme any Time
by GST CMP-04
However, such person shall be allowed to avail the input tax credit in respect of the stock
of inputs and inputs contained in semi-finished or finished goods held in stock by him and
on capital goods held by him on the date of withdrawal and furnish a statement within 30
days of withdrawal containing the details of such stock held in FORM GST ITC-01 on the
common portal.


Note : As per Rule 4 CGST Act to switch from Regular to Composition can be possible only on the begining of Fy