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COMPOSITION DEALER MIGRATING TO COMPOSITION SCHEME UNDER GST

18 July 2017

a dealer under Composition Scheme in VAT now wants to migrate to composition scheme in GST.
what are the transitional provisions as relates to ITC on closing stock as on 30 June?

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2 Replies

Preeti (Team_GSTSoln) (Team GST Experts) (1926 Points)
Replied 18 July 2017

no itc is available to composition holder

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Mahendra Dugar (205 Points)
Replied 18 July 2017

I know no ITC available to the dealer. But the question is about any tax to be paid on closing stock by him on migration. My belief says he need not pay any tax on stock at the time of migration.