I have a new gst registration n intend putting up my product on Amazon ...
Yet to start my business n opted for fulfillment by Amazon n they require the gst to be regular but my resistration was done as "composition" since it is a start up n expected income is below Rs 12 lakhs.
How do i do the switch ??
Your expert opinion n suggestions will be greatly appreciated.
You can change from composition to normal tax payer even if your turnover is below 12 lakh. Once changed you will get input credit of stock lying with you.
You need to apply for change in your GST portal after login.
Once changed you need to charge tax at normal rate.
To change from composition to normal scheme:
You will be changed from composition to normal tax payer.
Fill form ITC-03 to claim input tax on closing stock as on date of opt out.
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