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composition scheem
I am registered under vat sale all vat free item .under the gst all items under the gst tax.if I option composition scheem in gst can I pay any tax on my stock I hold on 30 june
Replies (8)
Upon sale Gst to be paid at rate applicable to your product.
I have 500000 closing stock of saree .gst rate is 5% .so I pay 25000 for composition scheem and another 1 % on sale.
I have 500000 closing stock of saree .gst rate is 5% .so I pay 25000 for composition scheem and another 1 % on sale.
Yes... Mr. Sanjay.,
You can opt composition then you ll be pay your Transaction based Tax to Govt for every Quarter
One time on opning stock or quarterly
Don't be Wrongly mentioned. You can't pay your opening stock.
You can pay you selling goods only. It's every 3months you ll be pay as per your quarterly Turn over.....
So it's clear I go with composition scheem and no pay on my opening stock pay only composition levy 1% on my quarterly sale.
yes... you can.....
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