TaxTMI 
TaxTMI 
COMPOSITTION SCHEME DELAER IF WRONGLY ISSUED TAX INVOICE
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....OMPOSITTION SCHEME DELAER IF WRONGLY ISSUED TAX INVOICE<br> Query (Issue) Started By: - TM ARJUN Dated:- 4-11-2017 Last Reply Date:- 6-11-2017 Goods and Services Tax - GST<br>Got 7 Replies<br>GST<br>SIR, RAMESH OPTED TO COMPOSITION SCHEME DEALER GST ACT AND WRONGLY ISSUED B2B TAX INVOICE TO MUGESH. CAN RAMESH ISSUE CREDIT NOTE TO MUGESH FOR REFUND OF FULL TAX AMOUNT WRONGLY COLLECTED, FOR THE PU....
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....RPOSE OF CONTINUE AS COMPOSITE DEALER SCHEME. Reply By MARIAPPAN GOVINDARAJAN: The Reply: In my opinion, you can do so. Reply By KASTURI SETHI: The Reply: Yes. No problem. I support the view of Sh.Maraippan Govindarajan, Sir. Reply By TM ARJUN: The Reply: THANK YOU VERY MUCH SIRS FOR YOUR IMMEDIATE REPLIES FOR BOTH MR. M.G AND MR. K.S Reply By Ganeshan Kalyani: The Reply: In my view, there....
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.... is penalty of ₹ 10,000/- if composition dealer does not mention declaration on inovice that he is a composition dealer and not authorised to collect tax. Reply By Ganeshan Kalyani: The Reply: Every composition taxable person shall mention on every bill of supply the words as "Composition Taxable Person noy eligible to collect tax on ". Reply By KASTURI SETHI: The Reply: If mis....
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....take is rectified by an asseessee on its own I.e. without being pointed out by the department. No penalty is impossible. Reply By TM ARJUN: The Reply: THANK YOU, MR. GANESHAN KALYANJI BUT I WANT TO EXPLAIN THE FACT OF THIS PROBLEM, THE DEALER WHILE REGISTER HIS BUSINESS UNDER GST ACT AS A REGULAR DEALER ACCORDINGLY HE ISSUED TAX INVOICE AND COLLECTED TAX. AFTER GOVERNMENT NOTIFICATION, A DEALER ....
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....FREE FOR WHO WANTS TO CHANGE UNDER COMPOSITION SCHEME WITH EFFECT FROM NEXT MONTH 1 ST DAY ONWARDS, ACCORDINGLY HE CHANGED AS COMPOSITION DEALER IN HIS SITE. BUT FROM 1ST NOVEMBER ONWARDS HIS GST SITE DISPLAYS COMPOSITION OPTION FROM JULY-SEP AS WEL OCT-DEC. SO THERE IS NO OPTION TO FILE RETURN AND PAY COLLECTION OF TAX AS REGULAR DEALE., HENCE HE WANTS TO ISSUE CREDIT NOTE BY RETURN TAX AS WEL CO....
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....NTINUE AS COMPOSITION SCHEME. HERE AS PER VIEW OF MR K.SETHIJI, THERE IS NO ANY RETURN FILED EITHER SIDE. PLEASE GIVE YOUR SUGGESTION.<br> Discussion Forum - Knowledge Sharing ....