What are the challenges clients face when they move from Regular to Composition scheme in the midst of a financial year?

This topic contains 3 replies, has 3 voices, and was last updated by  CA JEET REWRI 1 week ago.

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  • Robins George
    Moderator

    Abdul Rashid
    Participant

    Composition scheme will normally be applicable quarter-wise and I don’t think there would be any difficulty in dealing with the conversion from regular system to composition scheme.

    Saurab Bindal

    we moved to composition for one client effective from 1st December.
    How will the return for Qtr Oct to Dec wiil be filed as for part of the qtr the dealer was regular and part composite.

    CA JEET REWRI

    Major issue to ascertain the stock and make the reversal of input credit taken of GST Act and earlier Vat Act

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