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gat surrender
a composition dealer wants to surrnder gst. because his turnover is just 15 lakhs.. his closing stock is 20 lakhs. is he liable to pay tax on closing stock?
Replies (5)
As per Rule 20 : Yes . liable to pay tax on stock .
sir, on which rate, 1% or normal rate of the items?
pankaj sir,
composition dealer is not availing itc on purchase then y he is required to pay tax on closing stock at the time of surender?
composition dealer is not availing itc on purchase then y he is required to pay tax on closing stock at the time of surender?
Pritesh ji
Yes as logically it's true , but if we read rule 20 , has to deposit GST on stock @ 1%
Yes as logically it's true , but if we read rule 20 , has to deposit GST on stock @ 1%
k sir tqsm.... ..
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