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.

 

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