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Tax on stock on cancellation by composition dealers?

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(Querist)
19 April 2019 I am a composition dealer. I want to cancel my registration on account of turnover below Rs. 40 lacs. I have a stock of around 3 lacs as on 31st March 2019. Whether i am supposed to pay tax on such stock?
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Amol S Joglekar

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Amol S Joglekar (Expert)
19 April 2019 No. Since you have not opted any ITC on purchases

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