Closing Stock111

440 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

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
25 June 2026
AUDIT MANAGER

JDAS & ASSOCIATES

New Delhi

CA

View Details
Company
ARTICLESHIP 27 June 2026
Article

SNCO

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 27 June 2026
CA Articled Trainee And Paid Assistant

SKAA & Associates

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 07 July 2026
Articleship

Jawahar and Associates Chartered Accountants

Hyderabad

CA Inter

View Details
Company
20 June 2026
Assistant Accounts Manager

Fintax Professionals

Gurgaon

CA Inter

View Details
Company
ARTICLESHIP 30 June 2026
Article Assistant or Paid Assistant

VIKAS VERMA & CO

New Delhi

Others

View Details
Company
ARTICLESHIP 16 July 2026
CA Article

Pipara & Co. LLP.

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 30 June 2026
2 posts Article assistant and Articleship completed students

Chirag N Shah & Associates

Mumbai

CA Inter

View Details