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stock on 30 june 2017
what to do with the stock of a composit dealer registered under GST? will there be any effect ? because he only have to pay tax on total sale! and does total sale include exempt sale for computation of tax liability?
Replies (2)
Dear Mr Abhay,
As per Section 10, Some condition are specified for adopting the composition sachem and one of those is mention below.
"he is not engaged in making any supply of goods which are not leviable to tax under this GST "
So if he dealing with some goods which are Exempt under gst than he is not eligible for adopting composition sachem under gst.
Thanks & Regards
Durgesh Vashisth
9899812287
and if he doesn't have any exempted stock the what should be done with the remaining stock? should it be sold on MRP?
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