I am small manufacturer I opt for Composition and get ARN, no. But I have 4 lakh finished goods. What can we do? How to show it in GST
Once composition Scheme Opted than no input is eligible on closing stock.
We did not need in put it is negligible.
If the closing stock includes purchase from unregistered person Than such amount of tax shall be reversed. Means unregistered ke pass ke purchase kiya tho uspe tax lagega and wo reverse Karna padega.