If I have to come into composition scheme and i am having stock in my books, Do i have to deposit tax for that stock and if yes then till what date i can deposit?
Please advise ASAP.
6 Replies
RAMESH D MODI
(Proprietor)
(4869 Points)
Replied 29 July 2017
if u were in normal scheme in vat and choose composition now then only the ITC will be revered.
Sandeep Upadhyay
(1518 Points)
Replied 29 July 2017
Yes you have to pay tax if inter state purchase stock
Sandeep Upadhyay
(1518 Points)
Replied 29 July 2017
Yes you have to pay tax if inter state purchase stock
Sandeep Upadhyay
(1518 Points)
Replied 01 August 2017
In Composition scheme
Tax rate
Manufacturers 2%
Traders 1 %
Restaurant 5%
Priyank Aggarwal
(10 Points)
Replied 01 August 2017
thnks sandeep. this tax i hav to give on sale but on opening stock from 01-07-2017 how much i have to pay?
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