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Gst composition scheme

This query is : Resolved 
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(Querist)
06 July 2017 our client was registered in UPVAT but now he have migrated in GST and also i want to go in Composition Scheme but problem in closing stock because his remaining trade closing stock as on 30.06.2017 near about 15 lacs so tell me how to sale closing stock....??? in new scheme in composition rate as per law 1% for trader or any option ???

second point is this before his trade business was Input/Output based under UP vat Act.

Last financial year 2016-17 his turn over was small so can he apply in Compounding scheme in GST Law or scheme will be applicable to next financial 2018-19
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Amol S Joglekar

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Amol S Joglekar (Expert)
07 July 2017 under composition scheme, you need to pay 1 % (in case of trader) of the turnover....
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Shailesh Nigam

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Shailesh Nigam (Querist)
07 July 2017 i know we will pay 1% as per law but my problems are other in my query
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Amol S Joglekar

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Amol S Joglekar (Expert)
08 July 2017 1. he can go for composition scheme w.e.f. 01/07/2017..
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Shailesh Nigam

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Shailesh Nigam (Querist)
08 July 2017 but how to sales closing stock even no any notification come from GST Law
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Shailesh Nigam

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Shailesh Nigam (Querist)
08 July 2017 under composition scheme
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Amol S Joglekar

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Amol S Joglekar (Expert)
08 July 2017 what sort of notification you want? It is made clear in the scheme....
section 10 of the GST act specifies it.
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Shailesh Nigam

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Shailesh Nigam (Querist)
08 July 2017 sir plz send me link or section 10 of the GST act specifies it so i can understand about this
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Amol S Joglekar

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Amol S Joglekar (Expert)
08 July 2017 sure......
https://www.cbec.gov.in/resources//htdocs-cbec/gst/cgst-act.pdf;jsessionid=1E87C6A4143CF0C225F2273A2129DBD0
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