Which scheme is best? if my turnover is less than 50 lakh in retail ready-made garments.

Which scheme is best for me if my turnover is less than 50 lakh in retail readymade garments in c.g and we purchase from outside the state and our input credit balance on 30 June 6 lakh?

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1 Answer(s)

If your opening stock as on 1st July includes stock purchased from outside – then you cannot opt for composition scheme. assuming you are eligible, my advice would be not to go for composition scheme, bcoz it breaks the chain, the person to whom you sell would prefer someone who can issue tax invoice.

Answered on July 14, 2017.
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Gen GST