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composite tax

Rajeswari Manjunath (15 Points)

25 June 2017

I am in VAT now, going to composite option after GST.But what about closing stock of 5.5&14.5 after 30th.june

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Shivraj Shintre (kolhapur) (175 Points)
Replied 25 June 2017

If you are normal dealer in vat and if you are going to opt co. Composition in gst then your input tax credit of vat will get laps..... And for your information and if you are register in any of current tax then you will get ITC on the basis of your last return (it will mostly june month return) file in existing indirect tax i.e vat excise etx