A new composition scheme has been recently
notified by the Government vide notification dated
18/03/2016 in exercise of powers conferred in
section 16(12), wherein the registered dealers
whose annual turnover is up to Rs. 50 Lakhs and
who makes sales of cooked food, snacks, sweets,
savouries, juices, aerated drinks, tea and coffee
etc. have an option to pay composition tax @
5%.
In the above context, it is clarified that the
condition requiring payment of tax on opening
stock is not applicable to those dealers.
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