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Composition scheme

306 views 10 replies

Radhika Raghuwanshi

15 Points Joined July 2017

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

Replies (10)

p goel

7 Points Joined July 2017

yes . @ 1%

RAJU

LEARNER

1089 Points Joined November 2008

Only on taxable goods

RAJA P M

"Do the Right Thing...!!!"

128147 Points Joined January 2015

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

Rajni

Accountant

36 Points Joined June 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...!!!"

128147 Points Joined January 2015

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 Joined June 2017

Thanks sir

RAJA P M

"Do the Right Thing...!!!"

128147 Points Joined January 2015

You are Most Welcome

Mithul Jain

18 Points Joined June 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...!!!"

128147 Points Joined January 2015

@ 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