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Composition Scheme
Is a person who has opted for composition scheme under GST required to pay tax on the opening stock lying on 1st July 2017? And if yes, due date for the same?
Replies (4)
Its. wrong understandings...
We can't pay tax on the stock... We just show the stock details..
Then we can sell and Pay the tax.... That's all
Sir, what if I was not a composition dealer in pre gst regime and i have utilised the vat itc available on the same?
I'm asking it in context of a trader.
Yes...
If you are under GST as Regular Dealer and Also you have ITC in old regime. Then you can avail the benefit from TRAN 1 filing....
If you are opt to composition scheme then no way for utilize the previous ITC to GST regime...
If you are under GST as Regular Dealer and Also you have ITC in old regime. Then you can avail the benefit from TRAN 1 filing....
If you are opt to composition scheme then no way for utilize the previous ITC to GST regime...
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