Hello @vivek khot
Azure does not support directly downgrading a Premium SSD performance tier from P30 to P20 without resizing the disk. Because performance tiers are tied to disk size, the disk must be resized down to 512 GiB to map to P20, or a new P20 disk must be created and data migrated.
Premium SSD performance is directly tied to disk size. Since P30 is a 1 TB disk and P20 is a 512 GB disk, Azure does not allow changing just the tier without resizing. To downgrade, the disk size must match the target tier, or a new disk must be created.

Steps to perform :
1.Resize the disk
You must resize the disk down to 512 GiB to move from P30 to P20.
Important prerequisites (from real cases):
- The disk must be detached from the VM
- Used space must be less than 512 GiB
- VM should be deallocated before resizing OS disks
High‑level steps (Portal):
- Stop and deallocate the VM (if OS disk)
- Detach the disk
- Resize disk to 512 GiB (this automatically maps it to P20)
- Reattach the disk
- Start the VM
2.Create a new P20 disk and migrate data
If resizing down is not possible due to data usage:
- Create a new Premium SSD P20
- Attach it to the VM
- Migrate data using AzCopy.
- Detach the old P30 disk once validated.
Links:
https://learn.microsoft.com/en-us/azure/virtual-machines/disks-types#premium-ssds
https://docs.azure.cn/en-us/virtual-machines/disks-scalability-targets
Thanks,
Manish Deshpande.