27 June 2017
Respected Members,
If a registered vat dealer having a closing taxable stock of 13.125% as on 30-6-2017 under vat act, wants to opt for composition scheme u/s 10 of Cgst, but he is not having any input credit carried forward as on 30-6-2017.So,in this case, how will this stock be treated ?
27 June 2017
mam,how is this possible...the stock that would otherwise be taxable at 13.125% ...so as per ur answer will now be taxable at 1% because of opting composition scheme
27 June 2017
on basis of which section are you concluding this and at what rate and under which act, I am supposed to pay the requisite tax as said by you.
CAclubindia
