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To Pay tax under composition scheme

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21 Points Posted on 10 July 2018
One of my client run his business from many years ago......now he take registration under composition scheme.....My query is that whether he liable for pay 1% tax on after registration inward supply or whether he also liable to pay tax on old stock which is purchased before registration?
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On 10 July 2018 at 02:03 Report
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"Do the Right Thing...!!!"
128152 Points Posted on 10 July 2018
He ll pay his sales related Turn Over value. Not on purchase value. After registration GST applicable Your all Sales with new and old Stocks/Purchases.
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On 10 July 2018 at 05:53
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24196 Points Posted on 10 July 2018
In composition levy, gst is to be paid on sales turnover not on purchases.
* For trader and manufacturer, it is 1%(cgst 0.5%+sgst 0.5%.

* For Restaurant, it is 5%(cgst 2.5%+sgst 2.5%) 
Gst to be paid on total taxable outward supplies. 
From 1jan18 no gst on exempted supplies.
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On 10 July 2018 at 09:02


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