Closing stock
This query is : Open
Ankit Singhania
(Querist)
20 July 2017
There is no VAT on sarees. Now it has come under GST tax bracket with rate of 5%. I am willing to take composition scheme under GST.
My queries : Whether I have to pay 5% GST on closing stock on 30 June Or I have to pay only 1% of the sales made from 1st July?
My queries : Whether I have to pay 5% GST on closing stock on 30 June Or I have to pay only 1% of the sales made from 1st July?
Ankit Singhania
(Querist)
21 July 2017
Sir, pay 1% of sale or 5% gst on closing stock or both???
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