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composition scheme

Ankit chaturvedi (CA in Practice) (241 Points)

15 July 2017

mere client ki Up mathura m cusins, pillow, school bag's ki shop h...vo apna mal delhi se purchase krte h... unka sal ka turnover 75 lacs se kam h... ab unhe kya or kese krna hoga?

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SUSHANT KUMAR (Employed) (258 Points)
Replied 15 July 2017

For opting for composition scheme turnover should be less than 75 lacs. Also for opting composition scheme he shall not be eligible for sale outside state of U.P I.e sale should be within intra state. He shall have to pay GST @ 1% of Turnover during the year & he shall not be eligible for any input tax credit on purchases made.

SUSHANT KUMAR (Employed) (258 Points)
Replied 15 July 2017

But if ur client thinks that his turnover may exceed 75 lacs...then its better to opt for normal business. As he shall be eligible for input tax credit on purchases made. But under normal business, his compliance cost will be high as it requires 3 monthly return to

SUSHANT KUMAR (Employed) (258 Points)
Replied 15 July 2017

return to be furnished.

Ankit chaturvedi (CA in Practice) (241 Points)
Replied 15 July 2017

if he opts for normal there are more compliance for him I.. e.. 3 returns so may I do register my client under composition scheme?? in his current stock he having goods of Delhi state also.. please tell me the concrete action I have to take now

SUSHANT KUMAR (Employed) (258 Points)
Replied 15 July 2017

Go for composition scheme only if sale shall be within state.

Ankit chaturvedi (CA in Practice) (241 Points)
Replied 15 July 2017

OK... but vo apni purchases delhi se krte h.. is that make any difference?

SUSHANT KUMAR (Employed) (258 Points)
Replied 15 July 2017

There is no issue for composite dealers who purchases goods from outside state...the issue is sale should be made within the state. I think u got ur answer.

Ankit chaturvedi (CA in Practice) (241 Points)
Replied 15 July 2017

OK sir his all sales are within state so I will choose composition scheme for him. how can I find hsn code for his business

SUSHANT KUMAR (Employed) (258 Points)
Replied 15 July 2017

HSN code is not required to be mentioned for the dealers whose sale are below 1.5 cr.

SUSHANT KUMAR (Employed) (258 Points)
Replied 15 July 2017

simply he has to pay GST @ 1% of his sales.

Ankit chaturvedi (CA in Practice) (241 Points)
Replied 15 July 2017

but registration K time p to required hoga na?

SUSHANT KUMAR (Employed) (258 Points)
Replied 15 July 2017

GST ki official site se dekh lo HSN code.

SUSHANT KUMAR (Employed) (258 Points)
Replied 15 July 2017

https://gst.caknowledge.in/hsn-code-list/

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