watch_later 06/07/17

I am a wholesaler having b2b biz and turnover under 50lac can opt composition scheme

2 Responses | Latest response: 07/07/17 | Sort by Likes(thumb_up) Recent | GST Reply
watch_later 10/07/17

Thank you for answer,

If i go gor composition scheme what about stock as on 30/6/17 coz on vat system i am regular dealer so do i have to pay complete tax on my stock or what?

watch_later 07/07/17

You can opt for composition scheme. But few points to be noted:

  • You cannot sell to others located outside your state
  • You cannot avail input credit of tax paid on inward supplies
  • Your buyers cannot avail input credit on tax
  • You cannot opt for composition if you are supplying any exempted goods.
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