Hello Everyone,
I need to file ITC-03 being registeration converted from Regular to Composition Scheme. I have few queries if anybody knows than please give light on the same:-
1. In ITC-03 we need to give details of closing stock invoice wise so what if in one invoice we have purchase say 20 quantities and out of which 5 sold so in ITC-03 we need to show 15 quantity, Right? (Correct me if I am wrong)
2. What is value (as adjusted by debit note/credit note) : Do I here need to enter taxable value of unsold goods i.e. net amount before gst?
3. Being a retailer my goods type will come under :- Inputs held in stock OR Inputs contained in semi-finished and finished goods held in stock?
Thank You all.
CAclubindia
