Tax credit procedure

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1 Points Posted on 08 June 2017
the businessman, registered under compounding scheam is going to receive tax credit or not.
Is he going to collect tax to his customer too.
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On 08 June 2017 at 13:21 Report
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CHARTERED ACCOUNTANT
363 Points Posted on 08 June 2017

Any person registered under the composition scheme is not eligble to get benefit of Input Tax Credit.

 

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On 08 June 2017 at 13:33
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Manager-Accounts & GST Consultant
5124 Points Posted on 08 June 2017

No ITC allowed to composite dealer. He has to pay tax on a fixed rate on his turnover.

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On 08 June 2017 at 14:39
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Taxation Consultant
1823 Points Posted on 08 June 2017
no he cannot collect tax from customers
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On 08 June 2017 at 19:46

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