As on 30/06/2017 I had closing stock of around 20 lakhs and I could not opt for composition scheme under GST act as 90% of my closing stock was purchased from interstate. even now at the end of 31/03/2019 my closing stock will be around 24 lakhs where the same thing that 90% of my closing stock is purchased from interstate under GST act and also was the old stocks purchased from interstate when the KVAT and CST act was exist. Whether I am eligible to opt for composition scheme w.e.f. 01/04/2019 or any stock declaration is to be given.
can any body explain me.
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opting for composition scheme
Replies (6)
before 1.4.19 what were you following
means without gst registration or normal gst registration??
means without gst registration or normal gst registration??
why you opt for composition when you having more input
I want simple billing my neighbours are all under composition scheme but the customers are not accepting if I collect tax on my invoice. now I am under regular GST scheme.
The selling rate is same whether you give gst bill or composite bill of supply
I will not sell it on MRP but excluding GST that as a bill of supply under composition scheme. but I am asking weather I am eligible to opt for composition scheme. if applied for composition scheme is there any stock declaration or payment of tax for closing stock is required.
good clarification and information
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