banner_ad

Transition under composition scheme

325 views 3 replies
Sir,
When I have closing" taxable stock" at the time of migration, on which ITC already consumed against output.

So what was the transitional proses of that kind of goods,
- M I liable to paid on reverse charge basis ?

Or
- pay only @ 1% on sale only?

Note : at present I am an composition dealer.


Please answers when sure.

Thanking you
Replies (3)
pay tax only on goods sold . no question of availing credit in case if you don't file itc in your last vat return. No RCM as you have the closing stock which is tax paid.
I change Gst to composition can I pay Gst on old stock?
if u were in normal in vat and now change to composition u will have to reverse your ITC utilised of closing stock


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details