https://www.taxtmi.com/circulars?id=58853 Clarifies that voluntary withdrawal from the composition scheme takes effect from the date indicated in FORM GST CMP-04 (not earlier than the start of the financial year of filing), while denial of the composition option by tax authorities may be made from a date determined by them, including retrospectively but not prior to the date of contravention; denial triggers liability to pay tax under the normal regime from the date of issue of the denial order and necessitates recovery proceedings for tax, interest and penalty for the period from contravention to the order, with input credit entitlement governed by the provision applying to stock on the day before the order. en-us Mon, 31 Dec 2018 00:00:00 +0530 Wed, 02 Jan 2019 15:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=58853 Clarifies that voluntary withdrawal from the composition scheme takes effect from the date indicated in FORM GST CMP-04 (not earlier than the start of the financial year of filing), while denial of the composition option by tax authorities may be made from a date determined by them, including retrospectively but not prior to the date of contravention; denial triggers liability to pay tax under the normal regime from the date of issue of the denial order and necessitates recovery proceedings for tax, interest and penalty for the period from contravention to the order, with input credit entitlement governed by the provision applying to stock on the day before the order. Circulars GST Mon, 31 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/circulars?id=58853