I m planning to opt out from composite GST to regular GST from 1st October.. then wats the procedure...
secondly after opting out from composite , in regular GST can I take input tax credit from april'19
4 Replies
Devansh Chandna
(9 Points)
Replied 21 September 2019
Refer section 18 (1)(b) of CGST act and Rule 40 of Cgst Rules.
Miss Mansi Bhojani
(Practicing Chartered Accountant)
(1736 Points)
Replied 22 September 2019
A composition taxpayer opting out of scheme has to file an intimation of withdrawal under form GST CMP 04 and for the stock held to claim ITC later has to file intimation of stock under form GST ITC 01. Other conditions too apply.
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