Home Forum Goods and Services Tax - GST Month 4 2019 2019 (4) This
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Sch II clause 4(c) - Goods and Services Tax - GSTExtract A composite supplier ( sec 10 ) is having turnover of RS. 39 lakh in FY 18-19. And expect his turnover less than 40lakh in 19-20. He wants to cancel his registration today as his turnover was and will be less than 40 lakh. He is having stock and other assets on hand as on today is RS 10 lakh. As he is composite delear he has not availed ITC on input, input services and capital goods. Whether he has to pay GST on stock and other assets while he cancelling his GST registration? Pl refer sch II clause 4(c) of CGST ACT 2017 and sec 7 after CGST amnedment act 2018 applicable from 1.02.2019
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