Menu
ITC Under Composition levy
gst registered under Regular tax payer & gst returns also filled but now changed to composition levy, can i claim the itc ?
Replies (3)
Any registered person opting for the composition scheme cannot avail ITC.
If a person switches from the regular scheme to composition scheme, he shall be liable to pay an amount which is equal to the ITC availed in respect of the stock lying as on the day immediately preceding the date of such switchover. Any balance ITC after such payment which is lying in the credit ledger shall lapse.
NO CAN'T CLAIM ITC
Composition dealer can't take input tax.
Recent Threads
- TDS - requirement of TDS by individual under presu
- Built a tool to automate Bank Statement to Tally e
- Normal Register in GST in delhi in gujarat no rece
- ITC availment relationship
- Challan confusion in ITR B block return
- U/s 23 (2)(a) and 23 (2)(b)
- Building a Strong Financial Foundation: Key Accoun
- Long Term Capital Gains for shares
- Hiring Company Secretary Manager with 2 Years of P
- Updated Return _ Deduction
Related Threads
CAclubindia
