Many a time we have seen that people buys capital goods, take its Input Tax Credit (ITC) and then sale the asset after sometime. Now the question here is whether there is any need to reverse the ITC already taken at the time of purchase? In this article we will understand the answer of this […]
Article explains What is Composition Scheme under GST, Who can opt for the Composition Scheme under GST, Who cannot opt for the Composition Scheme under GST, Applicable tax rates under Composition Scheme under GST, Which Returns to be filed by dealer opting Composition Scheme and Miscellaneous Provisions related to GST. 1. What is Composition Scheme […]