Transition under composition scheme
nishant agrawal (35 Points)
28 July 2017When I have closing" taxable stock" at the time of migration, on which ITC already consumed against output.
So what was the transitional proses of that kind of goods,
- M I liable to paid on reverse charge basis ?
Or
- pay only @ 1% on sale only?
Note : at present I am an composition dealer.
Please answers when sure.
Thanking you