I have stock from out of state, can I opt composition scheme?

I have stock from out of state but my turnover is less than 50 lakhs so I can go into composition scheme. I have my stock as of now.

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4 Answer(s)

You can opt composition scheme if your sales exceeds 75lacs annually there are some limitations of it.

Answered on July 17, 2017.
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But what if i have stock from out state ? Can i still opt for it ??

Answered on July 17, 2017.
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No you cannot opt for composition becoz of rule 5(b) of gst as u have interstate stock as on the date.

Answered on July 17, 2017.
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If you have purchased outside state goods by paying with pre gst regime tax(vat) then you can opt composition . But the purchased goods should not be bought with C form with discounted tax bracket of 2%

Answered on July 21, 2017.
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Your Answer

Gen GST