Poonawalla fincorps

Composition scheme

This query is : Resolved 
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(Querist)
03 December 2009 Can anyone tell me about composition scheme ?

how tax amt. calculated under the scheme ?


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Vishnu Saboo

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Vishnu Saboo (Expert)
04 December 2009 Under composite scheme, dealer who opt the scheme has to be paid tax @ prescribed under state vat act on his taxable turn over.
who opted this schem, is not eligible for input credit and he can't show the tax amount in his invoice.

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