query under composition dealer

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116 Points Joined July 2017
if any trader of cloth taken composition scheme and have stock arround 5 lac on 1july.then he will pay GST on stock held on 1july or not
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On 03 October 2017 at 20:51 Report
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"Do the Right Thing...!!!"
128147 Points Joined January 2015
It's mean you ll sell it under composition scheme then pay the Tax liability....
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On 03 October 2017 at 21:09
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Chartered Accountant
86505 Points Joined April 2011
If you have stock which is purchased from unregistered dealer then you have to pay on such stock.

No need to pay on stock purchased feom registered dealer
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On 03 October 2017 at 21:11
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Business and tax consultant
3299 Points Joined September 2017
if you switched from regular to composition on ist July in that if you have ITC credit in previous regime you must clear that ITC
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On 03 October 2017 at 22:45


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