Am i liable to pay reverse tax under Composition scheme if i purchase from unregistered dealers ???
and if i made such purchase, whether i have to Take registration as a regular supplier ????😑
IN THE COMPOSITION SCHEME so far there is no restriction on purchases. however a taxable person opting for composition scheme will be required to pay tax on supplies taxable under rcm at regular rates. no, a dealer under this scheme has restrictions on outward supply not on inward supplies. no need to take reg. under regular scheme
CAclubindia
