i purchase from outside state and i pays freight charges then RCM is applicable to me can i then also opt for composition?
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Opt for composition.
Yes, you can opt for composition scheme. But following things kept in mind.
1. How much portion of your sale is of taxable goods and exempted goods becoz you have to pay tax on total turnover.
2. Non availability of ITC
3. Maintenance of inward and outward supply, stock (not in detail).
Everyone who wants to join composition scheme must do there cost benefit analysis before opting the scheme.
1. How much portion of your sale is of taxable goods and exempted goods becoz you have to pay tax on total turnover.
2. Non availability of ITC
3. Maintenance of inward and outward supply, stock (not in detail).
Everyone who wants to join composition scheme must do there cost benefit analysis before opting the scheme.
i m going for fresh registration and my opening stock includes interstate purchase and before no tax was levyed then also can i opt for composition
No ypu can't opt for composition as per Rule 3(b) of Composition Rules.
(i m going for fresh registration and my opening stock includes interstate purchase and before no tax was levyed then also can i opt for composition)
How you to Going fresh registration with Stock (inter State purchases). If inter State stock available only exciting tax registrant only. Then how you get inter State Stock...? or If have Intr stck then how you get fresh REG. it's only for migrated....
How you to Going fresh registration with Stock (inter State purchases). If inter State stock available only exciting tax registrant only. Then how you get inter State Stock...? or If have Intr stck then how you get fresh REG. it's only for migrated....
sir i m a cloth merchant, befor gst no tax was leved and i always had interstate purchade
you can not opt composition scheme. If u have stock purchased from inter state before 1st july, 2017 and transit to GST regime then you would not able to opt composition.
For inter state supply registration is mandatory
Yes if you engaged in inter state supply you have to compulsorily get registered in GST.
Whethet registration is required if I am purchasing from other state and making intra state sale...my turnover is below the exemption limit...I am a retailer.
You have to compulsorily get register if you are engaged in interstate supply
No need to take registration in GST, if your doing intra state supply and turnover is below threshold limit, irrespective of the fact that you are purchasing from outside state.
However if you are engage in interstate supply then you have to take compulsory registration as per sec 24 of CGST Act.
Thanku so much Mr. Rounak
Rashmi mam...I m not engaged in inter state supply...my purchases are inter state but my sale is intra state.
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