CMP 03 - Tax on Stock, Goods and Services Tax - GST

[RAVINDRA SANCHETI]

Assessee is registered as Composition dealer and having stock of ₹ 10 Lacs (GST Rate @ 5%) as on 30th Jun, Out of these ₹ 5 Lacs is purchased within State from Regd dealer, ₹ 4 Lacs Purchased from Unregistered Dealer, and ₹ 1 Lacs purchased from outside the state.

Now assesse wants to file CMP 03, my query is how much amount and on what value assesse needs to pay GST on Stock and Why.

Posts / Replies

[RAJA SWAMINATHAN]

In respect of Purchases made from registered person under the existing law Clause no 7 of Form No CMP 03 to be filled. In respect of Purchases made from unregistetred dealers Clause no 8 of Form no CMP 03 to be filled. The details of Central & State tax have to be filled in Clause no 9 of Form no CMP 03.