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WITHDRWAN FROM COMPOSITION SCHEME

This query is : Resolved 

I HAVE OPTED COMPOSITION SCHEME FOR RESTAURANT ON NOV -2019 WHEN I ONLY SUPPLY FOODS BUT FROM JULY 2020 I HAVE SUPPLIED LIQUOR (ALCOHOL) BUT I NOT APPLIED FOR WITHDRAWN FROM COMPOSITION SCHEME WHICH I SHOULD DO WITHIN 7 DAYS FORM 01.07.2020.
NOW I AM APPLYING FOR WITHDRAWN FORM COMPOSITION SCHEME WHAT CONSEQUENCES WOULD BEAR TO ME FOR NON COMPLIANCE
PLEASE GUIDE ME SOON.


You will have to pay tax from 1.7.2020 along with interest.

ON WHAT RATE I HAVE TO PAY TAX.
FOR LATE APPLICATION WOULD I HAVE TO PAY ANT PENALTY

The rate of GST will be 18%.Penalty may be levied depending on the facts of your case and the department officer up to 100% of tax.

BUT THERE IS LACK OF KNOWLEDGE , AND DURING COVID PERIOD I AM NOT ABLE TO TAKE ADVICE FROM MY LEGAL ADVISOR.
SO WHAT STEP SHOULD I TAKE TO RELEASE FROM PENALTY. HERE I AM NOT FILED CMP 08 OF JULY TO SEP PERIOD


Bajaj Finserv

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