Composition scheme

[Kamdev Senapati]

Dear experts,

Registration has been taken under Composition Scheme which is not suitable for business now.

Now we want to opt out from Composition scheme to Regular but the same has not available on portal.

Can the same Registration be surrender and apply New Registration for Regular scheme as the business is going to halt....

Please suggest...

[KASTURI SETHI]

As per law you can withdraw your option from Composition Scheme next year i.e. 1.4.18

[DR.MARIAPPAN GOVINDARAJAN]

I endorse the views of Shri Sethi.

[Deepak Garg]

WE CAN OPT FOR REGULAR SCHEME AT ANY TIME BUT THE SYSTEM IS NOT ALLOWING AT PRESENT

[Himansu Sekhar]

As appearing various clarifications, options will open very soon

[Chhatra Jain]

Today is the last day for opting composition but as GST portal is not functioning properly, let us hope for one more extension. If not then you have two options, Either wait for 01-04-2018 as Shri Kasturiji has suggested.Or surrender your existing number and go in for new Registration in composition scheme.

AI Summary

Withdrawal from Composition Scheme: statutory timing and portal limits may require surrender and fresh registration.
Formal withdrawal from the Composition Scheme is limited to the next prescribed commencement date and the GST portal currently may not permit an immediate switch; practical responses are to wait for the permitted withdrawal date or to surrender the existing registration and apply afresh for the regular scheme.