Is the VAT chain continued when a purchasing dealer opts for VAT - TopicsExpress

Is the VAT chain continued when a purchasing dealer opts for VAT composition scheme? What is the loss to the seller and buyer opting for the composition scheme, and the subsequent buyers? Ans - As soon as the dealer opts for the composition scheme, the VAT chain is broken. When a composition scheme is availed by a seller or buyer, he cannot claim input credit of the tax paid on the purchases. This will add to the cost of the goods. The benefit of tax paid earlier will not be passed on to subsequent buyers.

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