At present, we are in the Regular stream and we like to switch over to the Composition stream with effect from 01.04.2018 onwards.
When we tried to apply for this through the " Application to Opt for composition Levy "
from " Servicies -> Registration " menu, the "Financial Year for which composition Levy is opted " is showing as " 2017 - 18 " and is not editable.
Now, how shall we change the financial year and what is the proceedure to switch over to " Composition " Stream " in the next Financial Year.
Further, for those who are already in the Composition scheme in the current financial year and would continue to remain in the next financial year also, what is the proceedure ?
Process to change from regular scheme to composition scheme is:
You can select this option only once for a financial year.
Currently you can opt for 2017-18 only. For financial year 2018-19 you need to wait for some time as form is not yet opened.
I think the option for 2018-19 should open on April 1, 2018.
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