Can a person paying tax under composition levy, withdraw voluntarily from the scheme?

Yes, the registered person who intends to withdraw
from the composition scheme can file a duly signed or verified
application in FORM GST CMP-04. In case he wants to claim
input tax credit on the stock of inputs and inputs contained in
semi-finished or finished goods held in stock by him on the date
of withdrawal, he is required to furnish a statement in FORM
GST ITC-01 containing the details of such stock within a period
of thirty days of withdrawal.