Hi, Good morning.
My firm is a Vat registered and we migrate to gst before 30th June,2017. Having a cst purchased Stock on 1st July,2017.
My query is whether we opt composition Scheme or not as we have turnover below 50 lakhs in previous financial year.
If yes, than What Tax liability on Opening Stock?
Thanks.
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Vat/gst applicable on Stock
Replies (1)
If you opt for composition scheme then no INPUT CREDIT on stock available to you
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