Hi,
I have doubt regarding Composition Scheme.
Scenario 1 - I am a Trader of Furniture registered under Composition Scheme. I buy products from manufacturers who is also REGISTERED IN COMPOSITION SCHEME. Since the manufacturers is not eligible to collect GST from me(though he is paying the eligible 2% of turnover). Am I supposed to pay any additional GST Tax to govt in this case? If yes, how do I do it?
Scenario 2- I am a Trader of Furniture registered under Composition Scheme. I buy products from manufacturers is NOT REGISTERED. Since the manufacturers is not eligible to collect GST from me. Am I supposed to pay any additional GST Tax to govt in this case? If yes, how do I do it?
Thanks in advance for the response!
CAclubindia
