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GST composition
Can we register for composition today i.e 22.07.2017.
Replies (5)
date extended up to 16th August 2017
I'm a regular tax payer under vat and want to convert to composition scheme in gst, but my CA told me that if I convert now, I will have to pay tax for the stock held by me as of 30/6/17. is it true?
RAJA P M  22 July 2017
@ Mithul.,
Yes. That means,
If you have Rs. 10lakhs stock in hand. You can sell it after July under GST. Then you can pay as Tax your turn over based. That's all
@ Mithul.,
Yes. That means,
If you have Rs. 10lakhs stock in hand. You can sell it after July under GST. Then you can pay as Tax your turn over based. That's all
Yes you have to reverse the credit means you have to pay tax on the stock held by you.
He is right.
Yes you have to reverse the credit means you have to pay tax on the stock held by you.
He is right.
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