Tax liability on Opening Stock
Yusuf Chouhan (3 Points)
24 July 2017I would like to know What is the Tax liability on Opening Stock of 1st,July2017 if the regular registered vat dealer migrate to gst composition Scheme.
Thanks.
Yusuf Chouhan (3 Points)
24 July 2017
upasana gupta
(Finance Professional)
(3931 Points)
Replied 24 July 2017
upasana gupta
(Finance Professional)
(3931 Points)
Replied 24 July 2017
CA Akhilesh Kumar Kandpal
(Proprietor A K Kandpal & Associates)
(1442 Points)
Replied 24 July 2017
CA. RAGHAV GARG
(CHARTERED ACCOUNTANT)
(710 Points)
Replied 24 July 2017
CA. RAGHAV GARG
(CHARTERED ACCOUNTANT)
(710 Points)
Replied 24 July 2017
Ajay Agarwal
(CA-Student)
(134 Points)
Replied 17 August 2017
Please resolve my query on Reverse charge on Purchase agricultural produce from Farmer. Agricultural Produce -Mustard Seed HSN code-1207 Gst Rate-5%
1. I want to know about Reverse charge applicability on purchase of agricultural crop/produce from Farmer by commission agent/Traders in Grain Market. Is there are any exemption on Reverse charge when agricultural produce purchase from Farmer. Or we should pay Gst on Reverse charge bases on purchase of agricultural produce from Farmer.
2. If yes on above questions RCM attract on purchase of agricultural produce from Farmer. Than What about Reverse charge applicability on opening stock which was purchased from Farmers during vat regime. Is RCM attract on stock which carry forward from vat regime.(which was purchased from Farmers without paying tax.)
Thanks
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"