Composition levy for URD in GST
A Dealer (Not registered earlier under the Old Laws) wants to NEWLY register for Composition Scheme under GST. He has some stocks which have Invoices from Registered Dealer under Old Act (VAT) and stocks from un-registered dealer also.
Now if he wants to register for Composition Scheme –
- Is he required to mention details of these stocks in registration Application?
- Is he required to pay tax on these stocks from Un-registered Dealer on RCM basis?
- If he is required to pay Tax on these stocks of URD on RCM basis, then where these details are required to be disclosed?