Accounting entry on stock transfer to other branch and gst
This query is : Resolved
Avinash Jeevan Dsouza
(Querist)
14 December 2017
Accounting entry on stock transfer to other branch and GST.
We are manufacturer of the medicine and we want to transfer few medicine to our new retail shop?
How do we need to treat the same in our book and whether it is applicable for GST?
Do we need to raise debit note for transfer of goods?
We are manufacturer of the medicine and we want to transfer few medicine to our new retail shop?
How do we need to treat the same in our book and whether it is applicable for GST?
Do we need to raise debit note for transfer of goods?
Udaya Chandran
(Expert)
14 December 2017
If you transfer the goods to your branch within the state, delivery challan is enough. You can account it in your inventory as transfer to branch. GST is not applicable for transfers among branches within state.
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