“Composition levy” means taxable person have to pay tax at concessional rate instead of paying at full rate of the turnover during the year.
No relaxation to composition scheme dealers on reverse charge mechanism provisions. These dealers are also liable to pay tax on reverse charge on specific category of goods and/or services.
Taxable person shall not be entitled to claim any credit of input tax on the supplies received.
who is manufacturer of such goods as may be notified on the recommendation of the Council.
Further, if more than one registration has been taken under the same PAN, all registered taxable persons shall opt to pay tax under this scheme (i.e. registration taken under the same PAN will have to opt for this scheme) to avail benefit of this scheme otherwise they would be out of this scheme and other provisions of the Act applicable.
Do an composition scheme dealer need to deposit reverse charges amount if he receives goods from unregistered dealer in GST concept.
Do an registered dealer need to deposit reverse charge if he receives goods from composition scheme dealer. In GST concept.