dear expert,
1)i am a small saree retailer selling goods in state of odisha.
2) i was registered under odisha VAT and have now migrated to GST. my annual turnover is 30 lakhs.
3) sarees were exempt from tax under VAT But are taxable in GST.
4) as on 30 june i have stock which is purchased from unregistered dealer within the state
Can i opt for composition scheme. If yes what is the procedure..plz reply
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Composition scheme
Replies (14)
Yes, you can apply for composition scheme but you wont get any input tax credit on your purchase
Yes opt for Composition scheme.
1)Login to your Gst portal .
2) View your Profile.
3) There is a option for opting Composition scheme.
1)Login to your Gst portal .
2) View your Profile.
3) There is a option for opting Composition scheme.
With proper documents you can register yourself for GST or get it done by any professional.
Yes, you can opt for composition scheme.
Happy to see, someone from my Odisha has a query here.
Yes, you can opt for composition scheme.
Happy to see, someone from my Odisha has a query here.
Yes you can opt for composition scheme as assessee dealing in goods an opt for composition scheme
Any person being granted registration on a provisional basis (registered under VAT Act, Service Tax, Central Excise laws etc) and who opts for Composition Levy shall file an intimation in FORM GST CMP-01, duly signed, before or within 30 days of appointed date.
but what about the stock of goods(exempt in VAT but taxable in GST) lying on appointed date purchased from unregistered dealer? do i need to pay any tax for it?
Yes, you have to pay tax on lying stock, but only after you sell these goods
thanku..
Pay tax at each month end on your monthly sale.
do persons migrating from VAT need to provide any details of stock?
Since you opt for Composition scheme no stock details is required to be furnished, further you can not charges S/C-GST to your customer while selling saree's
if I held stock purchased from outside state ; which is exempted goods i.e cloth can I apply for compostion scheme under GST
can you please share the screen shoot of below how to edit if i have submit the alication
3) There is a option for opting Composition scheme
if I held stock purchased from outside state which is exempted goods i.e SAREE can I apply for compostion scheme under GST.
same question
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