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Composition scheme under gst
I am carrying retail cloth business. Our Annual turnover 40.00 Lakhs. I am unregistered dealer under present law. Can I opt. composition scheme under GST. Can I claim ITC on closing stock as on 30/06/2017 ? If yes, than what is the procedure for claiming ITC ?
Replies (3)
yes u can opt for Composition scheme. And yes you will bw eligible for ITC but your stock must not have any inter state purchases as on 30.06.2017
If inter state purchases included in our closing stock 30/06/2017 then ????????????
Then you cannot avail ITC
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