A registered composite scheme scrutiny of gst returns after dealer e-waybills purchase transactions un accounting some amount found.
e-waybills transaction purchase value rs:8 lacs + add profit rs:90,000/- total value rs:8,90,000/-
question:
dealer total value rs:8,90,000/- tax applicable pay compulsory.
As composition dealer cannot claim ITC it is block under Section 17(5). & Cannot charge & collect GST from Customer .
So the composition dealer is required to pay GST on Turnover which includes profit.
CAclubindia
