Composition Levy
This query is : Open
29 June 2017
Good Evening,
We have client who is currently registered in DVAT under normal scheme (dealing in inter-state purchases and intra-state sales), however, purchases were not through C-Form and VAT was paid @ 5%.
Now since his turnover is around Rs. 40L, he wants to opt for Composition scheme under GST, as under Sec 10 of CGST act, no restriction is there on inter-state purchases.
However, he is having stock in hand of around Rs. 20L (inter-state purchases). But as per Rule 3(1)(b) of Composition Rules, goods held on appinted date cannot be that from inter-state purchases.
If the inter-state purchases are not restricted under Composition scheme in GST, what is the logic of such restriction under Rule 3(1)(b).
Kindly clarify.
29 June 2017
It is quite confusing & misleading but the rule is there so we have to follow
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
- Traces Portal
- U/s.234E late fee- balated filing the TDS returns
- Capital Gain Incidents
- Minor Aadhar card cancelled
- Applicability of corporate governance provisions as per the SEBI LODR
- Form 121 of income tax
- Unable to login
- Minor - PPF Rules Doubt
- Cheque bounce intimation letter
- Appeal before the CIT (A) - Form
- Query regarding applicability of UDIN on MCA forms signed using DSC by a Chartered Accountant
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Spice form, ? mark comes in address
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
