stock intimation for composition

[ajay prajapati]

how to calculate tax on closing stock forcomposition dealer in cmp 03... like we have item in gst rate 18%....

[ANITA BHADRA]

In my opinion ,CMP 03 - you need to indicate value of closing stock in coloum 7 & 8 respectively :-

Stock of purchases from registered person

Stock of purchases from unregistered person

You have to give bifurcation of value & actual taxes paid thereon .

No separate calculation is required.

Regards

[ANITA BHADRA]

CMP 03 seeks value of stock purchased from registered and unregistered dealers . You need not to calculate tax on closing stock . Simply indicate value and tax paid there on in coloum 7 & 8 of CMP-03

Regards

AI Summary

Reporting of closing stock: composition taxpayers must state stock value and tax paid on CMP form without separate tax calculation. Composition taxpayers must report closing stock in the CMP return by indicating the value of stock purchased from registered and unregistered suppliers and disclose the taxes already paid on that stock; no separate tax calculation on closing stock is required for CMP filing.