27 September 2024
I want to start a retail pharmacy. At first i want to purchase medicines/stock with my drug license. After one month of taking drug license, i want to take GST registration(Composition scheme). Is it a legal way or not? Is it compoulsary to take GST registration before opening of my shop or before purchasing goods?
27 September 2024
It is OK. No need to get GST registration before purchase of goods. If you wish to go for regular scheme it is better to register earlier as you can avail ITC over GST paid on the goods purchased.
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