31 August 2007
A trader started business on 01.10.2006. He got voluntarily regisatered on 15.11.2006 (by paying Rs.5,000). Till 15.11.2006 he made purchases worth Rs.3,00,000/-, but no sales. Now, after getting registered, when he sales these goods purchased upto 15.11.2006, whether he will get set off on purchases ?
CAclubindia
