If i have opted for compostion scheme, Whether i need to pay GST under reverse charge Mechanism if i purchase from unregistered Dealer. Need clarification.
02 August 2017
01. In my practice of around 35+ years, I never came across with a person who does NOT maintain accounts. It is a different proposition whether those accounts are as per Accounting Standards or not. 02. The second point is that, if a person is desirous of composition necessarily implies that his/her turnover is less than 75 lakh per annum. i.e. to say average daily turnover of less than 20,000/- In reality s/he should get ample time ti fill GSTR 1. On the contrary s/he can think of providing the service of filling GSTR 1 for other small timers like him/her..... What do you say?
CAclubindia
