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Observation on composition scheme under GST
Tax payer opting for composition scheme under GST is deprived of availing ITC. Also the Tax payer cannot issue tax invoice and there by cannot collect GST from the customer. This will result in loss to the extent of tax paid on purchases.
Replies (1)
Loss can be compensated if the tax paid can be treated as cost of goods.
Please share your thoughts.
Please share your thoughts.
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