Composition Schemes


Tushar raja
watch_later 1 year, 6 months ago

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

  • chatComments
2 Answers

Pulkit Sharma watch_later 1 year, 6 months ago
arrow_drop_up
0
arrow_drop_down

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.
  • chatComments
    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? - tushar raja

Tushar raja watch_later 1 year, 6 months ago
arrow_drop_up
-1
arrow_drop_down

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?

  • chatComments
    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? - tushar raja
    Please use comment box to comment. You have wrongly selected answer box for commenting. - Pulkit Sharma
Did Not get Answer?

Join the largest Taxation Q&A platform on internet and ASK YOUR OWN question.

Ask your Question

You need to be logged in to answer.

Ask Question