im regular dealer, i want to opt compostion scheme for next Financial Year, i have Rs.50000 GST credit now, whether I used this credit when i raised my Compostion bill?..
if it is should not used this credit, 50000 refund to me or not?.....
Before going to composition scheme pls utilize the credit and there is no refund for the same.
after going to composition scheme pls don't forget to File itc 03... Because you have to reverse itc for stock in hand.
CAclubindia
