EXCESS AND DEFEICITED STOCK TREATED IN BOOKS FOR GST DEALER

For deficit stock, write off the value in your books and reverse any related Input Tax Credit (ITC) where necessary. For excess stock, investigate the source (often an unrecorded purchase), record the entry in your books, and ensure it is reflected in your GST returns. Always maintain a documented "Stock Reconciliation Statement" to justify these adjustments to tax authorities.