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Inventory accounting in gst act

This query is : Resolved 

Inventory accounting records is compulsory for 1.5cr below turnover limit for composite dealer and regular scheme both type of Dealers in gst act.

Stock accounting records are mandatory for every registered person under section 35 and rule 56.However, certain records like opening stock,receipts etc and goods w/off etc are not required to be maintained by composition dealer.

Bajaj Finserv

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