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Composition dealer eligibility
I own a shop having average annual turn over (between 20 to 75 lakhs) .I do interstate purchase and from unregistered dealers in u/s 6(2).
(1)Can I opt for composition scheme?
(2)Can I do purchase from out side state and from unregistered dealers in composition scheme ?
(3)Should I take closing stock details of 30th June in any aspect.
(4)Is there any liability to pay tax for the stock in hand on June 30th ?
Replies (3)
yes for your all questions
1.yes .2 yes ,but laible to pay reverse charge on purchase from unregd dealers 3.yes 4.laible to pay input tax
if any availed on stock on hand
if any availed on stock on hand
1. Yes
2. You can purchase interstate but seller will not be able to supply So you will not be able to.
3. Yes
4. No
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