Composition scheem

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swalih nk (Querist)
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04 December 2017 Dear Sir,

I am a composite taxpayer migrated from kerala VAT .now i want to withdraw composite registration due to inter state supply. if i withdraw composite registration by using Form COM 04, what is the consequence? ie whether can i get ITC during the second quarter (whan i was in composite tax payer) how it will affect stock in trade? and the liability of regular tax payer when will come exist.

Guest

Guest (Expert)

05 December 2017 You will able to take credit of stock held immediately before the day on which you have opted for composition scheme.

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