in the conditions for composition scheme it is written that... if a person opts for composition scheme he has to first pay reverse tax on goods bought by him from unregistered dealers...
So because all the cloth merchant have stock purchased from unregistered dealers... do they all have to pay reverse tax on their stock if they want to come into composition scheme?
1 Replies
Onkar
(Self Employed)
(111 Points)
Replied 23 June 2017
and what about if they r register dealer and purchase from register dealer but in vat it's tax free or @ nil rate which now under GST taxed @ 5 % or @ other percent, how they get input credit of it ?
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