Surender of GST no in composition schem
at the time of application for Surender of GST no under composition schem taxpayer have to pay tax on closing stock....for normal taxpayer have to pay tax
Replies (1)
No need to pay tax on stock if you cancelled your registration from composition. Regular taxpayer avail ITC on his imward supplies due to which while cancelling registration he need to pay tax on stock. Composition taxpayer not entitled to any ITC therefore no need to pay tax on Stock.
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