HI... WE ARE REGISTERED UNDER VAT COMPOSITION SCHEME AND ACCORDINGLY WE CAN'T AVAIL INPUT TAX ON PURCHASE.
BUT WE HAVE A GOOD QUANTITY OF STOCK ON WHICH WE HAD PAID VAT AND UNDER GST WE ARE AVAILING NORMAL SCHEME. CAN WE CLAIM INPUT CREDIT ON STOCK LYING WITH US
MAINLY I WANT TO ASK THAT WHAT IS TO BE DONE WITH THE STOCK THAT LIES INTO MY SHOP..... BUT I DONT HAVE BILLS AGAINST THAT STOCK AS IN COMPOSITION SCHEME IN VAT, WE WERE NOT SUPPOSED TO COLLECT PURCHASE BILLS...
CAN I SELL SUCH STOCK BY CHARGING GST ON IT.
CAclubindia
