Sir is dealer or business man dealing in tobacco and cigarettes can chose composition scheme in gst. Pls tell it's urgent
5 Replies
upasana gupta
(Finance Professional)
(3931 Points)
Replied 03 July 2017
Ice cream, pan masala and tobacco manufacturers cannot opt for the GST composition scheme under which businesses are allowed to pay at a lower tax rate if their turnover does not exceed Rs75 lakh.
sagar aggarwal
(ca)
(5 Points)
Replied 03 July 2017
hello everyone
My client is a dealer of footwear. earlier, he is not registered under vat. now he want to registered under gst under composition scheme. He purchase footwear outside state and sale it within state. His all stock as on 30th june, 2017 is purchased from outside state. Can he eligible for composition scheme?
My client is a dealer of footwear. earlier, he is not registered under vat. now he want to registered under gst under composition scheme. He purchase footwear outside state and sale it within state. His all stock as on 30th june, 2017 is purchased from outside state. Can he eligible for composition scheme?
Kunal Pansari
(Accountant)
(1037 Points)
Replied 03 July 2017
There is no restrictions for purchase in composition scheme. Composite dealer can purchase from other states, but sell to other states is not allowed.
sagar aggarwal
(ca)
(5 Points)
Replied 03 July 2017
what about the stock...is he need to pay any tax on such stock at the time of supply?
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