can we get credit if purchased from composition delar
4 Replies
Deepak Gupta
(CA Student)
(15922 Points)
Replied 04 August 2017
Since a composition dealer does not charge GST under the specified rates, but has to pay GST at flat rate, he will not be able to issue a tax invoice to you.
Instead, he will issue you a bill of supply.
As a result, you will not have any ITC to claim.
[If the composition dealer has purchased from a regular dealer, the GST charged will be passed on to you as his cost and will increase the cost of the product for you.]
https://blogs.tallysolutions.com/watch-who-you-buy-3-types-of-suppliers/
RAJA P M
("Do the Right Thing...!!!")
(128106 Points)
Replied 04 August 2017
No. You can't get ITC if you purchased from Composition Dealer.
You ll loss your tax components purchased from Composition Dealer.....
You ll loss your tax components purchased from Composition Dealer.....
RAJA P M
("Do the Right Thing...!!!")
(128106 Points)
Replied 04 August 2017
Then what is the meaning of ITC.....?! 😊😊😊
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