Can I withdraw from GST Composition Levy retrospectively (from a past date)?

By | December 18, 2017
(Last Updated On: December 18, 2017)

Can I withdraw from Composition Levy retrospectively (from a past date)? 

Yes, based on your reason for withdrawal, you can withdraw from the Composition Levy on a past (or future date).

  1. If reason for withdrawal selected is “Voluntary“: Date from which withdrawal from composition Levy is sought can’t be previous date, whereas current and future dates can be selected.
  2. If reason for withdrawal is other than “Voluntary”: Date from which withdrawal from composition Levy is sought can’t be future date and cannot be prior to the “Effective date of composition levy”.

In case of withdrawal from composition levy, you will have to file Form GST ITC-03 for intimation of stock details.

 

Related Topic on GST 

TopicClick Link
GST ActsCentral GST Act and States GST Acts
GST RulesGST Rules
 GST FormsGST Forms
GST RatesGST Rates
GST NotificationsGST Act Notifications
GST CircularsGST Circulars
 GST JudgmentsGST Judgments
GST Press ReleaseGST Press Release
GST BooksBest Books on GST in India
GST CommentaryTopic wise Commentary on GST Act of India
GST You Tube ChannelTaxHeal You Tube Channel
GST Online CourseJoin GST online Course
GST HistoryGST History and Background Material

Leave a Reply

Your email address will not be published.