I am a regular dealer registered under existing vat as a regular taxable person, now I want to register myself as a composition dealer under gst regime. I have both intra state and inter state goods in my closing stock on the appointed date. Can I still opt for composition scheme under gst regime and if yes how much tax I have to pay on which stock.
Note1 : I do not have any brought forward ITC on the appointed date because I have utilised all the ITC of intra state stock earlier for payment of taxes on sale of goods of inter state.
Note2 : I do not sale goods inter state, I only buy goods inter state and sell the same within state.
CAclubindia
