wrong composition

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... wrong composition
Query (Issue) Started By: - jeeshan ali Dated:- 14-12-2018 Last Reply Date:- 14-12-2018 Goods and Services Tax - GST
Got 1 Reply
GST
one of my client has switched from regular to composition w.e.f. 1/8/2017 by filing CMP 02 while his CA has not filed ITC 03 and his composition levy was invalid because of his aggregate turnover of the preceding FY which was 103 lakhs. .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... And now he filed only two quarters returns from july 17 to dec 17. while his turnover for the FY 17-18 was 120 lakh as per tax audit report and on which his VAT turnover was 65 lakh and GST turnover was 55 lakhs. Now please suggest me what should I do? As per my opinion now switching from composition to regular is the best option for him. Reply By KASTURI SETHI: The Reply: First of all approac .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... h jurisdictional GST Officer (Range Officer or Divisional Officer) and give in writing what has happened so far and also mention your client wants to shift from Composition to Regular GST Scheme again. Penalty will be levied for non-filing of returns and ITC-3. Penalty may be imposed for submission of wrong information on Common Portal System for the purpose of shifting from regular to Composition .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Scheme.After payment of penalty your client will be allowed to switch from composition to regular GST scheme again. Common Portal System will not allow to shift from Composition scheme to regular GST Scheme until Govt. dues are cleared. You need the guidance and help from Range Officer for setting everything right in Common Portal System.
Discussion Forum - Knowledge Sharing .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X