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.
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Composition Eligibility
Replies (6)
if u were in normal scheme in vat and choose composition now then only the ITC will be revered.
Yes you have to pay tax if inter state purchase stock
Yes you have to pay tax if inter state purchase stock
how much tax i have to pay nd till when?
In Composition scheme
Tax rate
Manufacturers 2%
Traders 1 %
Restaurant 5%
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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