A GST-registered dealer with nil opening stock had purchases of £1 lakh and sales of £3 lakh in July 2022, primarily via UPI. The query asks how to show the £2 lakh difference in sales turnover within GST returns and books for that month. The closing stock for July 2022 is nil, with the turnover recorded as £3 lakh and gross profit calculated at £2 lakh.
14 August 2022
Sir, A Gst registered regular scheme dealer Opening stock as on dt:01-07-22 nil Purchase for July -22 rs:1 lacs Sales for July -22 through on online UPI mode rs:3 lacs Question: Dealer ( difference sales turnover rs:3 lacs -rs:1 lacs )rs:2 lacs transaction show procedure in gst return and books for July -22 month.