https://www.taxtmi.com/forum/issue?id=114821 Whether a composite supplier cancelling GST registration because turnover falls below the composition threshold must pay GST on closing stock and other assets. The dealer did not claim input tax credit on inputs, input services or capital goods and holds tax paid stock. The advised position is that Schedule II clause 4(c) does not apply and the closing stock is not a taxable transfer on cancellation; the dealer may rely on the threshold exemption and need not discharge GST on such stock and assets. en-us Wed, 03 Apr 2019 08:31:55 +0530 Thu, 23 Jan 2025 15:55:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=114821 Whether a composite supplier cancelling GST registration because turnover falls below the composition threshold must pay GST on closing stock and other assets. The dealer did not claim input tax credit on inputs, input services or capital goods and holds tax paid stock. The advised position is that Schedule II clause 4(c) does not apply and the closing stock is not a taxable transfer on cancellation; the dealer may rely on the threshold exemption and need not discharge GST on such stock and assets. Discussion-Forum GST Wed, 03 Apr 2019 08:31:55 +0530 https://www.taxtmi.com/forum/issue?id=114821