new composition gst tax payer is pay the tax if he have the stock before july
1st.
1. before july 1st he don't have any vat and tin number
but he now regisitered under composition gst
and now he pay the tax old stock
?
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composition gst
Replies (2)
No need to pay any tax on old stock.
Hi,
Dont worry, No need to pay tax in your closing stock.
You can claim input tax credit on closing stock, if you purchased stock from tax registered suppliers.
Just sale your goods as per composition scheme.
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