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