Regarding composition scheme
This query is : Resolved
08 July 2017
Dear sir I am a retail chemist and i have applied for composition scheme. lt is written everywhere that a composition scheme retailer can not collect tax. Can i sell my products on M.R.P. as M.R.P. is inclusive of tax.
08 July 2017
Yes you can sell on MRP but will not be able to claim ITC on purchase
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08 July 2017
Your purchase price is inclusive of tax so no problem in selling at MRP.
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