GST ON stock Disposed

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Accountant
38 Points Posted on 29 July 2020
What is treatment Of GST on Stock and How to File it on Gst return.
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On 29 July 2020 at 23:44 Report
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Quick Summary
This discussion explains the Goods and Services Tax (GST) treatment for stock that has been disposed of. If you claimed Input Tax Credit (ITC) when purchasing the stock, you are liable to pay GST on its disposal. The process involves paying the tax under GSTR-3B and reporting the transaction in GSTR-1.

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Tax and Business Consultant
11616 Points Posted on 30 July 2020
You are required to pay GST on stock disposed off by you, if you have taken ITC on same at time of purchase.
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On 30 July 2020 at 01:57
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1102 Points Posted on 30 July 2020
Whenever you made sale, you have to pay tax under GStr3b and mention also in GSTR 1.
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On 30 July 2020 at 07:02

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