Closing Stock111

404 views 2 replies

A Closing Stock in Real Estate is purchased for 2 cr now 3 years happened the site has not started due to dispute of partner ....Can we take debit note or issue credit note ...And the payment is not done to Creditors...Stock includes Steel and Cement???

Replies (2)
Quick Summary
Real estate closing stock (steel, cement) held for 3 years due to dispute raises issues on credit/debit notes and unpaid creditors. GST aspects include reversing ITC after 180 days, treating returns as supply via invoice, and settling dues through netting off.

  • Check ITC Reversal: Ensure you have reversed the old ITC + Interest for the 180-day non-payment rule.

  • Return Goods: Issue a Tax Invoice to the supplier (Treat as a sale).

  • Settle Accounts: Net off the amount payable against the new invoice amount.

Thanks for sharing this post about Closing Stock in real estate. I found the details about the 3-year delay and partner dispute very interesting. It's helpful to see how this affects accounting with steel and cement inventory.  https://sora2aivideo.io


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details
Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 18 June 2026
Article Assistance

RB KESHRI & CO.

Mumbai

CA Inter

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details
Company
20 June 2026
Assistant Accounts Manager

Fintax Professionals

Gurgaon

CA Inter

View Details
Company
Featured 15 June 2026
Senior Auditor

N. Dhawan & Co

New Delhi

CA Inter

View Details