IF A PERSON IS UNDER NORMAL SCHEME UNDER CURRENT REGIME WANTS TO OPT FOR PAYMENT OF TAX UNDER COMPOSITION SCHEME IN GST REGIME, HELDS STOCK ON WHICH ALL INPUT TAX HAS BEEN CLAIMED, WHAT WOULD BE THE TRANSACTIONAL PROVISIONAL FOR OPTING COMPOSITION SCHEME ??
1 Replies
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 09 July 2017
He has to pay tax on stock. For this you can refer Sec 18(4) of GST Act.
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