LIVE GST Certification Course by CA Arun Chhajer begins 27th April. Register Now!!

Composition scheme

Radhika Raghuwanshi (15 Points)

20 July 2017

whether assessee opting for composition scheme has to pay gst on exempted sale of goods or not????

Reply
Follow
Share

10 Replies

p goel (7 Points)
Replied 20 July 2017

yes . @ 1%

1 Like

RAJU (LEARNER) (1089 Points)
Replied 20 July 2017

Only on taxable goods

RAJA P M ("Do the Right Thing...!!!") (127142 Points)
Replied 20 July 2017

@ RAJU.,
No. You are wrong.
@ Radhika.,
Composition Dealer ll be calculate his total sales if he sale taxable and excempted...

Rajni (Accountant) (36 Points)
Replied 21 July 2017

I am regular trader and now I go to composition scheme so can I pay gst on stock as on 30 June? I have no any credit in vat

RAJA P M ("Do the Right Thing...!!!") (127142 Points)
Replied 21 July 2017

Originally posted by : Rajni
	I am regular trader and now I go to composition scheme so can I pay gst on stock as on 30 June? I have no any credit in vat

You don't pay the Closing stock....

You ll be pay after sale of goods.....

Rajni (Accountant) (36 Points)
Replied 21 July 2017

Thanks sir

1 Like

RAJA P M ("Do the Right Thing...!!!") (127142 Points)
Replied 21 July 2017

You are Most Welcome

Mithul Jain (18 Points)
Replied 22 July 2017

I'm a regular tax payer under vat and want to convert to composition scheme in gst, but my CA told me that if I convert now, I will have to pay tax for the stock held by me as of 30/6/17. is it true?

RAJA P M ("Do the Right Thing...!!!") (127142 Points)
Replied 22 July 2017

@ Mithul.,
Yes. That means,
If you have Rs. 10lakhs stock in hand. You can sell it after July under GST. Then you can pay as Tax your turn over based. That's all