closing stock
This query is : Resolved
md abdullah
(Querist)
04 August 2017
The stock present as on 30th June 2017 with the business,post gst regime, will be sold with gst rates or vat rates. I mean whether the business will collect vat or gst on outward sale.
CA R SEETHARAMAN
(Expert)
04 August 2017
GST has to be collected on outward sale.
md abdullah
(Querist)
04 August 2017
even on the sale of the stock lying as on 30th June 2017
CA R SEETHARAMAN
(Expert)
04 August 2017
Yes the sale is on or after 1st July.
CA Prashant Gupta
(Expert)
04 August 2017
after 1st July you need to charge GST if it is not exempt goods. whether it is prior GST or not.
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