Dear Sir,
I have a small engineering firm with a annual turnover of Rs 15 lakhs , many items fall in the catagory of job work and sale of engg goods in bengaluru.
I am planning to migrate to GST composite scheme , as my sales is with Karnataka state.
My question is can I purchase raw material from other states under GST composite scheme
Yes, you can purchase from other state...........
But any such service supply is not eligible for composition....
Input credit is not available under composition scheme. In addition composition dealer is not allowed to charge GST, but pay GST at applicable rates from own source. But for job workers being service supply, composition scheme is not allowed.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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CAclubindia
