details of GST for retailers under compensation

composition-scheme-under-gst

what-is-gst-composition-scheme

If you are a retailer and in your stock no material who was purchase interstate than you can opt composition scheme ( Up 75 Lacs) 

1) you have not required to prepare Invoice serialy

2)  You filled Qtrly Return in  Form No GSTR-04 on or before  18th day of next Quarter

3) If you Purchase Material  ( More tha Rs. 5000/- Daily ) from Unregistered Dealer than You have  required to pay GST Tax under Reverse Charge

4) If Your Turnover Exceed more than 75 Lacs than you can't availed Composition scheme bbenefit

5) Under Composition Scheme you have not sale Interstate 

6) If on Appointed date ( 01.07.2017) You have stock which was purchase from unregistered dealer than you have required to pay GST Tax Under Reverse Charge

7) You can't availed composition scheme if you was purchase stock from outside state and available in your stock on 01.07.2017