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Gst on capital goods.
We are manufacturer. Can i sell any store item(which is not shown in trading account) other than finished products? If yes then how could i take the entry in our books of account. Our concern is if sales entry is taken then Opening Stock , Purchase and Closing stock of that item should also be taken . We are using Tally MU.
Replies (3)
no issues u can show it under the head other income
whether this type of sale is to be shown in gstr1 or not, if yes under which head.
Yes, to be shown in GSTR 1, under table 4,5,or 6 as applicable depending upon whether supplied to registered or unregistered person and value of supply greater or less than 2.5 lakhs.
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