Dear Experts,
One Trader registered under GST composition scheme (quarterly return) and the turn over is below 75lacs
But the Trader wants to adopt Regular Scheme/Regular Business (Monthly Return) under GST.
How to process the same..
Is it possible to change over the same now...
Please guide on this....
Trader Seeks to Switch from GST Composition to Regular Scheme; FORM GST CMP-04 Required, Portal Issues Noted. A trader registered under the GST composition scheme, with a turnover below 75 lakhs, seeks to switch to the regular scheme requiring monthly returns. An expert advises that withdrawal from the composition scheme is possible by filing FORM GST CMP-04 and submitting FORM GST ITC-01 with stock details within 30 days of withdrawal. Another expert notes that the required form is not yet available on the GSTN portal, indicating that the portal is still not fully operational, and users may need to wait for further updates. (AI Summary)
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