In composition scheme we have to sale or purchase the product from other state or not
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About composition scheme
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Only purchases,No Intra State sales
intra state means within state in composition scheme u can purchase from other state but can not sell to other states .
in this u will not get Input credit and can not charge your customers.
in this u will not get Input credit and can not charge your customers.
how to intimate tht v r adopting compositon ... i mean any form is required to submit ..
What about stock on 30 june if no itc standing?
What about stock on 30 june if no itc standing?
Confusion about GST Composition Scheme.
1: My Total Turnover ₹35 Lacs.
Soap, Spices, Biscuits etc ₹20 Lacs.
Atta, Salt, Loose rice etc (exempt items) ₹15 Lacs.
So what is tax liability in Compound. @ 1% 35000 or 2000
___________________
2: on 30 June i have Soap, Spices, Biscuits etc Stock of ₹150000.
Atta, Salt, Loose rice etc (exempt items) ₹50000
There is no ITC Balance So am i liable? to pay tax according closing Stock on 30 June.
1: My Total Turnover ₹35 Lacs.
Soap, Spices, Biscuits etc ₹20 Lacs.
Atta, Salt, Loose rice etc (exempt items) ₹15 Lacs.
So what is tax liability in Compound. @ 1% 35000 or 2000
___________________
2: on 30 June i have Soap, Spices, Biscuits etc Stock of ₹150000.
Atta, Salt, Loose rice etc (exempt items) ₹50000
There is no ITC Balance So am i liable? to pay tax according closing Stock on 30 June.
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