banner_ad

Closing stock on 30th june 2017

This query is : Resolved 
Profile Image

Profile Image

(Querist)
10 June 2017 Hi,

can anyone help me for below matter...

A pharmaceuticals retailer who is purchased goods from wholesaler and sale to consumer. He purchased the goods from wholesaler and paid the tax on MRP to the wholesaler and sales the goods under tax paid items.

After implementation of GST on 1st July 2017 what is closing stock (30th June ) for tax paid goods, is he liable to pay again tax under GST Act. or its exempted. or is there any time limit for transition goods under tax paid goods.

Request you kind help.

Regards
Anirudh
Profile Image

CA R SEETHARAMAN

Profile Image

CA R SEETHARAMAN (Expert)
10 June 2017 He has to pay GST again on the stock held. Input tax credit can be claimed on stock held for up to 12 months.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
29 April 2026
Internal Auditor

SNCO

Mumbai

CA Inter

View Details
Company
11 May 2026
Post office

Post office

Anakapalle

Others

View Details
Company
25 April 2026
Tax Executive/Manager

BDMV & Co, Chartered Accountants

Mumbai

CA Final

View Details
Company
03 May 2026
Senior Chartered Accountant

Nirmal Jain & Co

New Delhi

CA

View Details
Company
06 May 2026
Account Assistant / Article Clerk

V.K. Ranjan & Co(Chartered Accountants)

New Delhi

B.Com

View Details
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
ARTICLESHIP 02 May 2026
Accounts and Audit Assistant

Kothawade and Laddha

Thane

B.Com

View Details
Company
ARTICLESHIP 30 April 2026
Article Assistant

J SINGH & ASSOCIATES

Ahmedabad

CA Inter

View Details