Gst on stockintrade

My father who was a sole proprietor recently passed away. In his books he had a stock of around 1 crore. Though there is no physical stock neither there is any major balance of input tax credit.

Now how can I close his books and surrender his Gst number? 

Replies (29)
Quick Summary
This discussion addresses the complexities of closing a sole proprietorship business after the owner's passing, specifically concerning Goods and Services Tax (GST) on existing stock. The primary concern is how to settle the GST liability on stock valued at approximately 1 crore when there's no physical stock and limited input tax credit available, especially when funds are insufficient to pay the tax. The thread explores potential solutions, including transferring stock and ITC to a new GST registration, and adjusting differences against profit if the stock pertains to raw materials.

If you want to close the business , you have to pay tax on your stock. Better take new GST, transfer stock and ITC from one business to other and
Check with the physical stock verification report.

Whether books and stock report shows same stock ?

If not what happened to stock ?
The stock remaining as finished goods or raw material . If you hv paid gst on raw material that is remaining . That is absolutely ok. In case of finished goods. output gst needs to be paid.
Prepare reconciliation statement
If you don't have clarity on some topic why you replied unnecessarily.

The query is quite different than your reply .
You give answers good for nothing. In what way your reply is relevant
Here query is on stock available in GST firm whose owner died, and you are tellin about physical stock verification & reconciliation statement and bla bla bla.......
Queriest also told that stock is not available actually.How do you compare the stock in books ?

Don't you require stock verification report?

If it is not sold and it's not available in books , then what happened to stock ?
So he replied only after reconciling, he is not just assuming and presuming like you.
There is no professional answers from you .

Are you really CA or just added degree in name for advertisement
No certifcation required from your side
Even Normal person doubt you whether you are professional
Make healthy discussion if you can, no need to justify you on my certifcation
You only started the unhealthy discussion. Hope you realised now

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