composition scheme

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20 Points Joined May 2017
what will be the liability of tax on closing stock if i opt for composition scheme
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On 23 June 2017 at 16:43 Report
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Finance Professional
3931 Points Joined May 2015

If you opt for composition scheme then you have to bear the tax liability 1% for manufacturer, 2.5% for restaurant sector and 0.5% for other suppliers on turnover.

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On 23 June 2017 at 16:53
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19 Points Joined June 2017
if ur closing stock is local purchase means u claim input tax then u pay tax all closing stock. before opted composition scheme
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On 23 June 2017 at 16:54


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