Regular to Composition scheme

[mithun saha]

sir/Madam

Please advice whether i can convert from Regular to Composition scheme now

regards

Mithun Saha

[KASTURI SETHI]

Now from next financial year.

[Himansu Sekhar]

In this financial year the transfer is not allowable

[Ganeshan Kalyani]

The option has to be exercised at the beginning of the financial year. I agree with Sri Kasturi Sir's view. Thanks.

AI Summary

Conversion to Composition Scheme allowed only at the start of a financial year under GST; intra-year conversion not permitted. Conversion from regular GST registration to the Composition Scheme must be exercised at the beginning of a financial year; intra-year switches are not permitted. Taxpayers cannot transfer from regular to composition during the current financial year, so the option is available only at the fiscal year commencement and must be planned accordingly.