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Gst stock related query


Harvinder Singh (Nil)     19 January 2020

Harvinder Singh
Nil 
 2 points

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registered as Regular Taxpayer.

Registered as manf/wholesale/retail

But doing wholesale and primarily retail only.

Now my query is 

Is it necessary to maintain stock for trader having turnover less than 25 lakh?

Is there any exemption to this as for retailer is not possible to maintain stock.

prasad Nilugal (Accountant and GST Practitioner . )     19 January 2020

prasad Nilugal
Accountant and GST Practitioner .  
 296 likes  4487 points

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You have to maintain updated Stock register  because  ,  GST  applicable  on Stock  transfer  form  Wholesale  to retail  even without consideration .Also  as  per  section 35 of the CGST  act  2017  it is  mandatory  to maintain Stock  register  with  Accounts & Records ,if  you are Registered  Taxpayer  under GST 

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