Composition scheme

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123 Points Posted on 08 September 2020
can the dealer under composition scheme collect tax of 1% by issuing tax invoice from dealers?
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On 08 September 2020 at 19:28 Report
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Dealers operating under the composition scheme cannot issue tax invoices or collect GST from their customers. Instead, they must issue a 'Bill of Supply' and pay the tax out of their own funds. This bill must clearly state that the issuer is a composition taxable person not eligible to collect tax on supplies.

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Tax and Business Consultant
11616 Points Posted on 08 September 2020
No, Composition dealer can not issue tax invoice and also can't charge GST from customer.
Composition dealer required to issue "Bill of Supply" and have to Pay tax out off his pocket only...
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On 08 September 2020 at 19:55
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1313 Points Posted on 08 September 2020
Composition dealer must mention the words ' composition taxable person, not eligible to collect tax on supplies' at the top of "Bill of supply" issued by him.
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On 08 September 2020 at 20:35
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123 Points Posted on 09 September 2020
Thank you very much
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On 09 September 2020 at 22:03

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