composition scheme

179 views 2 replies
User Avatar

20 Points Joined May 2017
what will be the liability of tax on closing stock if i opt for composition scheme
0 Reply Share Follow
On 23 June 2017 at 16:43 Report
Replies (2)
User Avatar

Finance Professional
3931 Points Joined May 2015

If you opt for composition scheme then you have to bear the tax liability 1% for manufacturer, 2.5% for restaurant sector and 0.5% for other suppliers on turnover.

Reply
On 23 June 2017 at 16:53
User Avatar

19 Points Joined June 2017
if ur closing stock is local purchase means u claim input tax then u pay tax all closing stock. before opted composition scheme
Reply
On 23 June 2017 at 16:54


CCI Pro

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Threads

More recent discussions | Post

Related Threads
Loading