Composition
This query is : Open
25 September 2017
if a composition dealer purchases goods from unregistered person then he is liable to pay GST on reverse charge on purchase or not ? also any itc can claim by composition dealer?
25 September 2017
1. Yes. RCM is applicable
2. No.. He can't claim itc on RCM related tax...
This is the drawback in Composition scheme...
2. No.. He can't claim itc on RCM related tax...
This is the drawback in Composition scheme...
26 September 2017
for example purchase goods from unregistered person assume Rs. 100000 then liable to pay 5000 under rcm(assume 5% rate) and again sold this goods on Rs. 110000 then again liable to pay GST 1% Rs. 1100. am i right sir ?
26 September 2017
for example purchase goods from unregistered person assume Rs. 100000 then liable to pay 5000 under rcm(assume 5% rate) and again sold this goods on Rs. 110000 then again liable to pay GST 1% Rs. 1100. am i right sir ?
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26 September 2017
Yes...
You are exactly correct....
These are the drawback under Composition Scheme.... So, Only I'm not referred to composition scheme....
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