Composition scheme

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105 Points Posted on 16 February 2021
I purchased goods from a composition dealer, he gives bill, the bill includes no tax
How i acount the bill?
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On 16 February 2021 at 15:37 Report
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Quick Summary
If you've received a bill from a composition scheme dealer that doesn't show any tax, you should account for the entire amount on the bill. It's important to note that you cannot claim any Input Tax Credit (ITC) on such transactions.

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GST Consultant
15986 Points Posted on 16 February 2021

Account the bill on the total value of the bill. You cannot take any ITC on this bill

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On 16 February 2021 at 15:42
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105 Points Posted on 16 February 2021
Thank you sir
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On 16 February 2021 at 15:43

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