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What are the disadvantages of joining the composition scheme?

April 26, 2017composition disadvantages joining Scheme

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What are the disadvantages of joining the composition scheme?

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Again, it will be a matter for you to decide based on the nature of your business. But, you will not be able to claim set-off of any VAT you may pay on your business purchases, nor will you be able to issue tax invoices to your customers. For dealers who are engaged in executing works contracts or dealers in second hand passenger motor vehicles and opting for composition option, special provisions for claim of set off and tax invoice would apply.