LAST TIME I HAVE ASKED QUERY ABOUT COMPOSITION DEALER AND GOLD APPRAISERD. NOW I HAVE SUJJESTED TO MY CLIENT WITHDRAWAL OF COMPOSITION LEVY AND CONTINUE AS A REGULAR DEALER. BECAUSE HE HAS NO ITC CARRY FORWARD AND DID NOT PURCHASE ANY GOODS FROM REGISTERED DEALER NOW WE CAN OPT FOR WITHDRAWAL FROM COMPOSITION LEVY TO REGULAR DEALER.
BECAUSE FOR THIS YEAR UP TO SEP 2021 HIS TOTAL TURNOVER DOES NOT EXCEEDS EVEN RS. 1500000/- SO HE NEED NOT TO FILE ANNUAL RETURN FOR HIS PREVIOUS TURNOVER IN COMPOSITION LEVY ONCE HE BECAME REGULAR DEALER.
01 October 2021
Irrespective of the scheme, regular or composition, Annual return for FY.2020-21 need not be filed by the dealers having turnover up to Rs.2 Crores.
I AM GOING TO FILE HIS SECOND QTR COMPOSITION RETURN FILE JUL-SEP 21 ACCOUTING HIS APPRAISAL CHARGES OF RS.178000/- AND SALES 491050/- PAYING COMPOSITION RATE @ 1% AND AFTER THAT I WILL WITHDRAW FROM COMPOSITION SCHEME AND CONTINUE IN REGULAR SCHEME. TOTAL TURNOVER UPTO SEP JUST RS 698740/-.
01 October 2021
Once the dealer fails to fulfil the conditions, he can't continue to supply under composition scheme. So you have to file the return under composition scheme till such time when he fulfilled the conditions, and file normal return for the period from when he breached the conditions.
NOW WHAT TO DO HE HAS TO FILE COMPOSITION RETURN FOR THE PERIOD JUL TO SEP BECAUSE HIS CC ACCOUNT HAS TO BE CONTINUED UNLESS HE CANT TRANSACTION IN THE BANK. SO I HAVE DECIDED TO FILE THE RETURN IMMEDIATELY AND PAID THE TAX.
NOW HE WANTS TO WITHDRAW THE SCHEME AND WILLING TO CONTINUE UNDER REGULAR SCHEME. SO IN THIS SITUATION HE WILL PAY GST AMOUNT FROM AS A NORMAL DEALER.
SO YOUR SUGGESTING FILE COMPOSITION TAX FOR SALES AND WITHDRAW FROM THE SCHEME AND APPLY FOR REGULAR SCHEME AND FILE SEP MONTH GST RETURNS WHEN HE FAILS TO PAY THE TAXES INCLUDING WITH INTEREST.
04 October 2021
File return and make payment in CMP-08 for the period till you're eligible to be a composition dealer and file GSTR 1 from when you're not eligible to be composition dealer.
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