Few days back, I resolved will not post anything negative. But today, just opened the system, saw first tweet (GoI) and then first mail (Taxguru), I changed my decision.
Mr. Sharad asked GoI :
"If someone opted for composition by mistake, but is charging gst from clients and taking ITC from July, what is the solution??"
and GoI Replied :
U should immediately opt out of composition (u/r 6(3) of CGST Rules) as u cannot avail ITC nor u can charge GST from your client.
On this Reply, all readers got angry, as everyone knows, he needs to opt out, but how ? Where is the form GST CMP-04 ?
Second things, was update mail from Taxguru about penalty of Rs. 20K on a dealer for tax of Rs. 15 by Tax Department of Andra Pradesh. Many cases are pending at govt's end, and traders are loosing their business on account of delay in getting registration, not able to opt out or cancel their registration. But a lesson for all. Any item you sell worth Rs. 200 and above, must issue an invoice. You may be an honest person, can make a transaction thru bar code and record in your accounts and pay full tax, but if no Invoice is found, you will be treated guilty. So, take care of all compliance prescribed under GST. If No Computer, Issue Manual Invoices. This is Easy. Thanks.
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