I am a wholesaler having b2b biz and turnover under 50lac can opt composition scheme
You can opt for composition scheme. But few points to be noted:
- You cannot sell to others located outside your state
- You cannot avail input credit of tax paid on inward supplies
- Your buyers cannot avail input credit on tax
- You cannot opt for composition if you are supplying any exempted goods.
Thank you for answer,
If i go gor composition scheme what about stock as on 30/6/17 coz on vat system i am regular dealer so do i have to pay complete tax on my stock or what?
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