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GST composition

161 views 5 replies

ajit

EXECUTIVE

22 Points Posted on 22 July 2017

Can we register for composition today i.e 22.07.2017.

Replies (5)

CA Mayur Todmal

Practicing CA

7756 Points Posted on 22 July 2017

date extended up to 16th August 2017

Mithul Jain

18 Points Posted on 22 July 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

"Do the Right Thing...!!!"

128147 Points Posted on 22 July 2017

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

Anurag Agarwal

CA Final Advocate

292 Points Posted on 22 July 2017

Yes you have to reverse the credit means you have to pay tax on the stock held by you.

He is right.

Anurag Agarwal

CA Final Advocate

292 Points Posted on 22 July 2017

Yes you have to reverse the credit means you have to pay tax on the stock held by you.

He is right.

CCI Pro

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