https://www.taxtmi.com/notifications?id=4365 A composition tax regime permits registered works contractors to pay a specified composition amount on turnover instead of normal tax, with differentiated rates depending on whether purchases and sales occur solely within the Territory or involve out-of-Territory procurement or supplies. Opting requires filing the prescribed form and remains valid for three consecutive years. Composition dealers are barred from claiming input tax credit, issuing tax invoices, collecting tax, making interstate purchases on declaration forms or importing goods; they must declare and pay tax on opening stock and reverse input tax credit on capital goods claimed in the preceding three years. en-us Wed, 30 Nov 2005 00:00:00 +0530 Sat, 27 Sep 2008 14:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=4365 A composition tax regime permits registered works contractors to pay a specified composition amount on turnover instead of normal tax, with differentiated rates depending on whether purchases and sales occur solely within the Territory or involve out-of-Territory procurement or supplies. Opting requires filing the prescribed form and remains valid for three consecutive years. Composition dealers are barred from claiming input tax credit, issuing tax invoices, collecting tax, making interstate purchases on declaration forms or importing goods; they must declare and pay tax on opening stock and reverse input tax credit on capital goods claimed in the preceding three years. Notifications VAT - Delhi Wed, 30 Nov 2005 00:00:00 +0530 https://www.taxtmi.com/notifications?id=4365