composition bill issue
RAJEEV (student) (134 Points)
16 July 2017
can composition scheme business entity issue invoice ? do e need to maintain purchase bills?
8 Replies
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 16 July 2017
You have to issue bill of supply in place of tax invoice.
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 16 July 2017
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....
RAJEEV
(student)
(134 Points)
Replied 16 July 2017
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
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 16 July 2017
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....
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....
RAJEEV
(student)
(134 Points)
Replied 16 July 2017
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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