Yes, in the GST Composition Scheme, any credit notes issued that reduce the taxable value (such as for sales returns or discounts) need to be adjusted and reversed in the GST liability. Although composition taxpayers do not claim input tax credit (ITC), they are still required to correctly report their taxable turnover after adjustments for any credit notes issued. In your case, if you issue credit notes of around ₹2-3 lakh every year, you should reduce this amount from your total turnover when filing the annual GSTR-4 return to ensure your GST liability is accurately reported. This adjustment helps ensure that you pay GST only on your actual net sales. So, while you don't "reverse" credit notes like in the regular scheme for ITC purposes, you still need to reduce them from turnover in your returns under the composition scheme.
सर जी नमस्कार मै demate account के माध्यम से सन् 2020 से माह में 10 20 स्टांक खरीदता था इस तरह से कुल 6.70 लाख रुपए जमा किए हैं जो कि बढ़कर 17 लाख के लगभग हों गया है क्या एक साथ withdrawal कर सकते हैं कितना tex लगेगा कृपया मार्गदर्शन करने का कष्ट करें
Superb Explanation Sir👏🏻👏🏻
Thanks and welcome
Thanks for sharing helpful information
👍👍
Good information ji
Thanks
Composition ki return ka charge kitna le sakta hai ca
2000 to 20000
Depend on many factors
सर नमस्ते 🙏
क्या मैन्युफैक्चर कंपनी से कोई मशीन खरीद के अपना स्टीकर चिपकाकर मार्केट में बेच सकते है ।
कोई सरकारी विभाग से दिक्कत तो नहीं होगा,
No
Inverter battery shop ke liya kon se sceem achi ha
Depend kisko maal bechna hai
Retail me and UPTO 1.5 cr sales then composition
Otherwise regular
Charge con sema jyada lagta ha
Kya composition scheme wale B2B supply de sakte hain?
Aur ise apne quarterly gst return me Kahan show karna hoga?
No
Sir main khad dealer hu mera business yearly 1000000 ka hota h
What is your query
CA kitna charge leta hai yearly agar hum usko quatrly 3 se 4 lakh ka gst bill ka accouting karaye to??
Depend on many factors
2k to 10k
Sir मैं ek chhota dukan kirana ka GST Lena kaisa rahega please bataye
No need UPTO 40 lakh sale
If taken
Keep records
File GST returns
Pay GST accordingly
Kya composition scheme wale dusre state se bhi purchase kr skte hai??
Yes
Sir ITR ka video baniye composition scheme me aour ITR ke baare me explain kre aour GSTR4 BHI
File ITR 4
Video already uploaded
GST and ITR me sales same honi chaiye
Sir composition me every years 2 lakh 3 lakh ka credit note show karta h use reverse karna padega kya
Yes, in the GST Composition Scheme, any credit notes issued that reduce the taxable value (such as for sales returns or discounts) need to be adjusted and reversed in the GST liability. Although composition taxpayers do not claim input tax credit (ITC), they are still required to correctly report their taxable turnover after adjustments for any credit notes issued.
In your case, if you issue credit notes of around ₹2-3 lakh every year, you should reduce this amount from your total turnover when filing the annual GSTR-4 return to ensure your GST liability is accurately reported. This adjustment helps ensure that you pay GST only on your actual net sales.
So, while you don't "reverse" credit notes like in the regular scheme for ITC purposes, you still need to reduce them from turnover in your returns under the composition scheme.
Sir,
STCG Wale case me aapka demand drop ho gaya ??
Yes
Jewellery making. comp r regullar
Both options available
Depend case to case
I have udyam registration.I need gst r not .
Not UPTO threshold limit
Or unless required
Sir books of accounts need to maintain vo nahi bataya
You should keep records of transaction with you like purchase bill sale bill payment bank statement etc
Sir agar aapka bhai govt job me h to aap trading kar skte h
Yes
I want to start a small business, I want to sell it on amazon and it requires gst number, can I open it in regular Gst registration?
Yes
@@CASumitSharma So we can take input credit right?
Yes
सर जी नमस्कार मै demate account के माध्यम से सन् 2020 से माह में 10 20 स्टांक खरीदता था इस तरह से कुल 6.70 लाख रुपए जमा किए हैं जो कि बढ़कर 17 लाख के लगभग हों गया है क्या एक साथ withdrawal कर सकते हैं कितना tex लगेगा कृपया मार्गदर्शन करने का
कष्ट करें
Tax income pe lagega
STCG
LTCG
If over-all income crosses 3 lakh annually