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.
Guidance on Filing CMP 03 for Composition Dealers with Stock from Various Sources as of June 30 A query was raised regarding the filing of CMP 03 for a composition dealer with a stock of 10 lakhs as of June 30, with varying sources of purchase. The stock includes 5 lakhs from registered dealers within the state, 4 lakhs from unregistered dealers, and 1 lakh from outside the state. The response advised filling Clause 7 of Form CMP 03 for purchases from registered dealers, Clause 8 for purchases from unregistered dealers, and Clause 9 for details of central and state tax. (AI Summary)
TaxTMI 
TaxTMI 
TaxTMI 
