becker
CIBIL
coaching

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Purchase from composition dealer


bijo (Accountant)     23 November 2020

bijo
Accountant 
 6 likes  302 points

| My Other Post

How should we have to show in our books,if purchase from composition dealer? under zero rated purchase or particular tax rated head?

avater

Aditi Kaur (Practising CA)    24 November 2020

CCI Online Learning offers a library of courses for CA/CS/CMA Aspirants from the best faculties in India. Our top notch courses aim to make your journey from a student to a professional, a successful one. To promise a successful career as a professional CCI Online Learning also offers programs like Financial Modeling, MS Excel, IFRS/IND AS Certification Courses that will help you take your career to the next level. Check out the free demo videos here https://www.caclubindia.com/coaching/


gameplaysNmore

gameplaysNmore   23 November 2020

gameplaysNmore

 3 likes  96 points

View Profile | My Other Post

The composition dealer is not allowed to charge gst on invoices, hence the question of itc does not arise. As the composition dealer has to pay tax on turnover basis.

JATINDER KUMAR

JATINDER KUMAR (Accountant)     23 November 2020

JATINDER KUMAR
Accountant 
 262 likes  3642 points

View Profile | My Other Post

Under purchase from composition dealer

ayusmita

ayusmita (Tax consultant)     23 November 2020

ayusmita
Tax consultant 
 353 likes  5249 points

View Profile | My Other Post

When you buy from a composition dealer the purchase amount become the cost for the buyer
they will gives you bill of supply only
no reverse mechanism or input tax credit

Bhavika Kothari

Bhavika Kothari (CA)     06 December 2020

Bhavika Kothari
CA 
 16 likes  456 points

View Profile | My Other Post

Purchase from composite dealers do not attract GST


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  


Bajaj Finserv

Related Threads


Loading


Trending Tags