Opening stock declaration for composition scheme requires disclosure of stock, purchases, capital goods, input tax credit and dealer certification. Form SS 01 requires a dealer opting for the VAT composition scheme to declare TIN and business name, the total value of opening stock on the first day of the composition period, itemised stock purchase details, and capital goods on which input tax credit was availed during the preceding three years; the dealer must certify the accuracy of these particulars and confirm availability of supporting documents, signing and dating the form.
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Provisions expressly mentioned in the judgment/order text.
Opening stock declaration for composition scheme requires disclosure of stock, purchases, capital goods, input tax credit and dealer certification.
Form SS 01 requires a dealer opting for the VAT composition scheme to declare TIN and business name, the total value of opening stock on the first day of the composition period, itemised stock purchase details, and capital goods on which input tax credit was availed during the preceding three years; the dealer must certify the accuracy of these particulars and confirm availability of supporting documents, signing and dating the form.
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