How to withdraw from Composition Scheme /GST COM-04 Intimation/Application for withdrawl from composition levy
The composition dealer who wants to withdraw from composition scheme voluntarily shall, before the date of such withdrawal, file an application in FORM GST CMP-04 , digitally signed or verified through electronic verification code on the GST common portal.
And in case the composition dealer have to withdraw from composition scheme, as he ceases to satisfy conditions specified in section 10 of CGST ACT,2017, he shall also file an intimation for withdrawal from the scheme in FORM GST CMP-04 within seven days of the occurrence of such event.
Suggest Read: All About Composition Scheme
Procedure to file GST CMP-04
GST CMP-04 is now available on GST portal:
Login on the GST portal.
Click on registration tab under Services.
Than click on tab “Application for withdrawal from composition Levy”.
The application form will open , which needs to be filled by applicant. Lets discuss the contents of form:
2. Legal Name of business
3. Trade name
4. Address of principal place of business
All the above mentioned fields need not to be file as these are auto populated.
7. Reason for withdrawal from Composition Levy:
Choose the relevant reason for withdrawal.
8. Date from which withdrawal from composition levy is sought:
9. Verification : check the verification box.
10. Name of Authorized signatory: Select the name of authorized person from drop down box.
11. Place: Enter the place.
12. Save and submit either with DSC or with EVC.
This form contains details of the stock of inputs and inputs contained in semi-finished or finished goods held in stock by him on the date on which the option is withdrawn or denied, within a period of thirty days from the date from which the option is withdrawn.