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composition supply

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9 Points Posted on 02 August 2017
can a dealer registered under composition scheme purchase goods from another dealer registered under composition scheme?
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On 02 August 2017 at 11:53 Report
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Proprietor
4869 Points Posted on 02 August 2017
yes why not?
18 Reply
On 02 August 2017 at 12:00
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CHARTERED ACCOUNTANT
363 Points Posted on 02 August 2017
Yes, of course it can be done.
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On 02 August 2017 at 12:02
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9 Points Posted on 02 August 2017
what would be the rate of tax charged on such purchase when composition dealer not allowed to collect tax
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On 02 August 2017 at 12:04
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CHARTERED ACCOUNTANT
363 Points Posted on 02 August 2017

1% of the turnover in State or turnover in Union Territory.

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On 02 August 2017 at 12:11
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Proprietor
4869 Points Posted on 02 August 2017
yes 1% on sale only
no tax on purchase
18 Reply
On 02 August 2017 at 12:12
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9 Points Posted on 02 August 2017
make it sure sir as in this case the govt is loosing out on normal tax rate, if this is so then composition dealer will always purchase from another composition dealer and not normal dealer. moreover if a composition dealer purchases from unregistered dealer then he had to charge tax on RCM.
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On 02 August 2017 at 12:55
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Proprietor
4869 Points Posted on 02 August 2017
no government is not loosing in fact it is getting extra 1% at every stage of such dealer sale.
rcm applicable in case of purchase from unregistered
18 Reply
On 02 August 2017 at 12:59


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