if any stock not sold within six month which is mentioned in trans 1 then what will be consequences.
and my another question is if trans 1 not yet filed then is it possible to file manually to sto
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trans 1 and trans 2
Replies (6)
It would be treated as supply, and ITC availed would be added to the output tax liability.
No, it cannot be filled manually
No, it cannot be filled manually
Yes if stock not sold within 6 months ITC claimed will be reversed.
As everything in gst is online you have to submit by electronic means only... not manually.
As everything in gst is online you have to submit by electronic means only... not manually.
but many people not yet filed trans 1 due to technical support so they filed repetation in high court , and with the technical support problem they filed manually
You contact and report to gst officials about this matter. Take their opinion.
how to value closing stock as on 30 june 2017 because tally shows value under avg cost method and as per as 2 it is cost or market price whichever is lower.
In tally there is option to change the costing method.
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