we are trader in uttar pradesh and purchase from rajasthan and sale in uttar pradesh only having previous turnover 40 lakh and want to opt for composition scheme, for this what would be the impact on my closing stock of approx12 lakh on 30 June 2017.
Dear Harshvardhan Bhatt., As per rule you cannot register under GST if your turn over is less than 20lakhs. You can purchase goods from other states for without registration. In case you deal inter State sales then you can register under GST. A dealer made inter State supply /sales he get must GST registration....
CAclubindia
