WE ARE DEALING IN XYZ GOODS WHICH ARE PURCHASED AT SUPPOSE 100/- GST 18/-
IN THE MEAN TIME DUE TO MARKET SLUMP, RATE GOES DOWN, PRODUCT GOT SOLD AT 40/- RATE IS 18% SO TAX IS 7.20/- WHAT SHOULD BE DONE TO BALANCE ITC
Menu
Sale at below purchase price in GST
Replies (7)
The balance itc can be utilised aginest further gst liabilty
carry forward in gst return and can utilise in future against gst output liability.
ITC shall be carry forward and it shows in your electronic ledger.
Yes , ITC balance will C/f
no you cannot carry forward ITC for that particular product
reason ?
good clarification and information
Recent Topics :
- Why are foreign investors suddenly buying Indian s
- TDS ON IMMOVABLE PROPERTY - PURCHASE FROM NRI &
- Query to Tax Garden tax consultant
- Subject: Urgent Assistance Required – TRACES
- Claiming business re-imbursements while filing GST
- E-waybill 14 Digit Numbring
- Non filing of MGT-14 for MD appointment
- HUF AFFIDAVIT vs HUF DEED - REQUIREMENTS & STA
- Free Pre-Filing Tool to Match GSTR-3B vs GSTR-2B (
- MR AASHOK KUMAR SHARMA
Related Topics :
CAclubindia
