composition dealer

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M
199 Points Joined December 2010
if a trader have stock of 20 lakhs in relation to pre gst regime and was taxable @ 5% under vat,now he has opted for composite scheme and pays 1% GST,will any issue arrise in this regards .
dear experts plz reply
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On 15 December 2017 at 16:03 Report
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Chartered Accountant
284 Points Joined February 2017
If he opts for Composition scheme he is not eligible for ITC on purchases
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On 15 December 2017 at 16:13


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