Composite scheme
This query is : Open
12 August 2017
What about the treatment of closing stock as on dated 30/06/2017. If i will opt composite scheme for the FY 2017-18 then how to claim ITC and which form i have to fill and what is the last date of submission.
And
my another question is that i have read this paragraph mentioned below
"Credit on duty paid stock when Registered Person does not
possess the document evidencing payment of excise duty/VAT
Credit would be allowed after the GST is paid on such goods
subject to the condition that the benefit of such credit is passed
on to the customer by way of reduced prices."
Can somebody please make me understood about this paragraph with example.
Thanks in advance
And
my another question is that i have read this paragraph mentioned below
"Credit on duty paid stock when Registered Person does not
possess the document evidencing payment of excise duty/VAT
Credit would be allowed after the GST is paid on such goods
subject to the condition that the benefit of such credit is passed
on to the customer by way of reduced prices."
Can somebody please make me understood about this paragraph with example.
Thanks in advance
13 August 2017
If you opt for composition scheme, no ITC shall be available.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- ITR 2 Short Term gain & Long term gain
- Off Market debit and credit transaction
- Itr 1 processing
- Reporting Income under Section 44ADA
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- ITR validation error - Balance sheet is not filled
- ITR returnFY25-26
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR 1: Details for showing Exempt Income
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
