Composition scheme under gst

rahul (b.com) (20 Points)

22 June 2017  
I am carrying retail cloth business. Our Annual turnover 40.00 Lakhs. I am unregistered dealer under present law. Can I opt. composition scheme under GST. Can I claim ITC on closing stock as on 30/06/2017 ? If yes, than what is the procedure for claiming ITC ?