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Closing stock
If I have closing stock in hand when GST is effective and I am not getting set off infact I have to make payment so is it still compulsory to disclose stock as on 30.06.2017
Replies (2)
suppose you are dealing in an item which suffered excise duty in earlier stages prior to your purchase and that item was in stock on 30th june, in order to claim presumptive tax relief you have to disclose stock though you may not have c/f vaT tax
so if an item does not suffered excise duty in earlier stage purchase than also in the above case mentioned stock disclosure is compulsory if there is no set off
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