Composition
This query is : Open
12 July 2017
SIR
A WHOLESELLER OF CLOTHS WHO APPLIED FOR REGISTRATION UNDER GST DT. 01.07.2017 AND OPTING COMPOSITION SCHEME SO LET ME KNOW THAT WHAT IS THE POSITION OF HIS EXISTING CLOSING STOCK WHICH IS EXEMPTED FROM TAX TILL 30.06.2017
IS HE IS LIABLE FOR TAX ON HIS CLOSING STOCK OR NOT
A WHOLESELLER OF CLOTHS WHO APPLIED FOR REGISTRATION UNDER GST DT. 01.07.2017 AND OPTING COMPOSITION SCHEME SO LET ME KNOW THAT WHAT IS THE POSITION OF HIS EXISTING CLOSING STOCK WHICH IS EXEMPTED FROM TAX TILL 30.06.2017
IS HE IS LIABLE FOR TAX ON HIS CLOSING STOCK OR NOT
CA Rashmi Gandhi
(Expert)
12 July 2017
No need to pay tax on closing stock. Whwn you sell such goods charge gst only.
CA Rashmi Gandhi
(Expert)
13 July 2017
Composition dealer not allowed to charge GST from customer.
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