composition bill issue

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student
134 Points Joined January 2014
can composition scheme business entity issue invoice ? do e need to maintain purchase bills?
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On 16 July 2017 at 09:19 Report
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Chartered Accountant
86505 Points Joined April 2011
You have to issue bill of supply in place of tax invoice.
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On 16 July 2017 at 09:27
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student
134 Points Joined January 2014
do I need to collect tax bill from purchaser
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On 16 July 2017 at 09:39
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Chartered Accountant
86505 Points Joined April 2011
Yes..........
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On 16 July 2017 at 10:00
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"Do the Right Thing...!!!"
128147 Points Joined January 2015
Yes... You can collect Tax invoice from your supplier. But, Can't take ITC on that tax amount. Even you can't quite Taxes on your bill of supply....
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On 16 July 2017 at 10:05
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student
134 Points Joined January 2014
I'm not getting bill from my supplier n I'm in compostion scheme ...so wat I will do s issue supply bill is it ryt
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On 16 July 2017 at 10:08
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"Do the Right Thing...!!!"
128147 Points Joined January 2015
No... It's not good.
Your supplier is registered as regular dealer then you get tax invoices must. If your supplier also RD under composition then he ll be issue Bill of Supply....
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On 16 July 2017 at 10:17
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student
134 Points Joined January 2014
so if my supplier is reg. as regular I need to pay tax n I need to give supply bill to my customer without tax ?
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On 16 July 2017 at 14:22
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Chartered Accountant
86505 Points Joined April 2011
Yes rajeev.........
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On 16 July 2017 at 16:24


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