Opening stock
This query is : Resolved
28 June 2017
Respected sir
is it need to be prepare closing stock list before starting GST for 30th june 2017 and start accounting? please advice thanks...........
is it need to be prepare closing stock list before starting GST for 30th june 2017 and start accounting? please advice thanks...........
CA Rashmi Gandhi
(Expert)
28 June 2017
Yes if you want to get credit.
Message likes :
1 times
28 June 2017
RESTECTED RASHMI MAM
THANKS......NOW ITS CLEAR. INREGISTARED TRADER IN EXCISTING LAW CAN AVAIL ITC ON HIS COLOSING STOCK? PLEASE ADVICE AND ALSO SALE PRICE OF CLOSING STOCK AFTER APPLY GST? PLEASE ADVICE THANKS.....
THANKS......NOW ITS CLEAR. INREGISTARED TRADER IN EXCISTING LAW CAN AVAIL ITC ON HIS COLOSING STOCK? PLEASE ADVICE AND ALSO SALE PRICE OF CLOSING STOCK AFTER APPLY GST? PLEASE ADVICE THANKS.....
CA Rashmi Gandhi
(Expert)
28 June 2017
Yes he will also if register under normal scheme in GST.
29 June 2017
Respected mam
thanks for your replies ...but if the trader opt composition scheme then he will not received ITC in old stock? please clear to me thanks.......... also he need to be fill TRASN 1 for ITC? thanks...........
thanks for your replies ...but if the trader opt composition scheme then he will not received ITC in old stock? please clear to me thanks.......... also he need to be fill TRASN 1 for ITC? thanks...........
Amol S Joglekar
(Expert)
29 June 2017
yes, composition scheme.......ITC is not available
CA Rashmi Gandhi
(Expert)
29 June 2017
Trans-1 fill to get credit of ITC in your return or unavailed credit of capital goods.
Message likes :
1 times
29 June 2017
THANKS MAM
WHAT IS SELLING PRICE IS OLD STOCK I.E. STOCK IN HAND BEFORE ON 30TH JULY HOW INVOICE CALCULATION AND ISSUE INVOICE? PLESE GIVE DETAIL IF POSSIBLE WITH AN EXEMPLE. ITS A BIG QUESTIONS AFTER 30TH JUNE.
WHAT IS SELLING PRICE IS OLD STOCK I.E. STOCK IN HAND BEFORE ON 30TH JULY HOW INVOICE CALCULATION AND ISSUE INVOICE? PLESE GIVE DETAIL IF POSSIBLE WITH AN EXEMPLE. ITS A BIG QUESTIONS AFTER 30TH JUNE.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Amount transferred in HUF Account
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- GST input credit on commercial property
- Nursery business
- GSTR-9C filing
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- TDS on Dashcam rent and allied services
- Working on Gold wastage during Melting of old gold jewellery
- Import Order Cancelled.
- Royalty payments to the Mining Department for procurement of murum - GST input
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
