Forum GST Switchover from Regular strea…

Switchover from Regular stream to Composition stream W E F 01.04.2018
Anon
watch_later 12/03/18

Dear Sir,

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 ?

Kindly advice.

Thank You.

1 Response | Latest response: 12/03/18 | Sort by Likes(thumb_up) Recent | GST Reply
Pulkit Sharma
watch_later 12/03/18
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Process to change from regular scheme to composition scheme is:

  • Login to your GST website
  • Click on Services
  • Click on Registration
  • Click on Application to opt for composition scheme

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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