Regarding New Registration
Bharat Kumar (I want become successful chartered accountant) (40 Points)
30 May 2017Bharat Kumar (I want become successful chartered accountant) (40 Points)
30 May 2017
Studentsca
(CA Practice )
(3577 Points)
Replied 30 May 2017
Prity Agarwal
(CHARTERED ACCOUNTANT)
(363 Points)
Replied 31 May 2017
Yes, registration can be done under the composition scheme.
However, it is not recomended to go for composition scheme since he shall not receive benefit of Input Tax Credit.
PRABIR PAUL
(*****Accountant***** Never insult to any person for any kind of lack of knowledge or misread.)
(1443 Points)
Replied 31 May 2017
If you are liable to get the registration under CGST ACT under composition scheme then don't do it register yourself in nomal provision.
Composion scheme doesn't have right to take the ITC.
rohit
(none)
(186 Points)
Replied 31 May 2017
Composition (Subject to certain conditions)
Disadvantage: No Input Tax Credit: and pay (1% tax out of pocket)
Benefit: Quartely Return instead of Monthly for Normal.
PRABIR PAUL
(*****Accountant***** Never insult to any person for any kind of lack of knowledge or misread.)
(1443 Points)
Replied 31 May 2017
Originally posted by : rohit | ||
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Composition (Subject to certain conditions) Disadvantage: No Input Tax Credit: and pay (1% tax out of pocket) Benefit: Quartely Return instead of Monthly for Normal. |
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Money is better than labour.
ITC is important rather than quaterly return.
CA Rashmi Gandhi
(Chartered Accountant)
(86308 Points)
Replied 17 June 2017
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)