Sir,
We have a stock of cement worth Rs 500000.00 in 31.03.18.
I made an entry :- Stock of cement Dr. Rs 500000
To Purchase of Cement GST 28% Rs 500000.00
So please suggest what should be opening entry on 01.04.18 in GST regime.
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Opening stock entry
Replies (6)
Are you maintain Your account manually or any Software?
Mr sunil sir... if your maintaining inventory in computer software, stock will be there. No need to give journal entry. . Else u have to give opening stock item wise manually.
The entry for opening stock should be similar to reversing the previous year closing stock.
the right entry is
Trading a/c Dr 500000
To opening stock a/c 500000
the right entry is
Trading a/c Dr 500000
To opening stock a/c 500000
@ RAJA PM SIR, I am using Tally erp 9
| Originally posted by : Sunil Kumar Mallia | ||
 |
@ RAJA PM SIR, I am using Tally erp 9 |  |
Then Why You prepare the Journal Entry at the time of Closing on 31/03/18...
On 31/03/2018 it's Your Closing Stock... It's also C/f to 01/04/2018 as Your Opening Stock...
No need any Journal Entry...
@ Raja Pm sir, Actually I am working in a construction company and inventory not maintained in tally . So as per stock statement received from construction site ,closing stock entry made manually.So please suggest.
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