TaxTMI 
TaxTMI 
GST change effect on composition GST payers
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....ST change effect on composition GST payers<br> Query (Issue) Started By: - Pragya Dated:- 20-9-2025 Last Reply Date:- 21-9-2025 Goods and Services Tax - GST<br>Got 3 Replies<br>GST<br>I run a pharmacy....
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...., and I pay the GST under the composition scheme . From 22nd sept I have to sell goods on the lesser rate . What will happen to the existing stock. Will I suffer loss on sell of the previously purcha....
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....sed goods, as I will not get the benefit of ITC. Please answer my query. Thanks Reply By Sadanand Bulbule: The Reply: As you are registered under the Composition Scheme, you do not get Input Tax Cr....
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....edit (ITC) on your purchases in any case. Hence, the change in rate from 22nd September will only affect the tax you pay on your outward supplies (sales). From 22nd September onwards, you have to dis....
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....charge GST at the new reduced rate on all sales, including goods purchased earlier. The stock lying with you will simply be sold under the new rate. There will be no additional liability or I....
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....TC reversal, since ITC benefit was never available in the composition scheme. Reply By Shilpi Jain: The Reply: If you are a composition tax payer then 1% GST as you are a trader. There is no change ....
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....in rate of tax for you. Reply By Ganeshan Kalyani: The Reply: I agree with the view of the authors.<br> Discussion Forum - Knowledge Sharing ....