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Which amount should be shown as opening stock on 01-07-2017.

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7059 Points Posted on 24 August 2021
Before GST(as on 30-06-2017) of ₹ 1200000 has closing stock.Shoukd zero be shown as opening stock or show closing stock as on 30-06-2017 in the P&L Account for the period from 01-07-2017 to 31-03-2018.
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On 24 August 2021 at 22:12 Report
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Chartered Accountant
24588 Points Posted on 25 August 2021
Show the actual value
129 Reply
On 25 August 2021 at 06:12
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7059 Points Posted on 25 August 2021
Sourav Sir
What is the actual value you mean?.GST has no opening stock as on 01-07-2017.So what value should be shows as opening stock to prepare P&L Account for 9 months only GST period from 01-07-2017 to 31-03-2018.
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On 25 August 2021 at 07:05
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CMA
13117 Points Posted on 25 August 2021

Only one p&l account for the entire year would suffice.

What for do you want to have separate p&l statements?

92 Reply
On 25 August 2021 at 09:05
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GST Practitioner
178 Points Posted on 25 August 2021
Form Trans - 1 & 2 was there to declare pre gst stock in gst.... I think your query is about that.... not about p&l account...
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On 25 August 2021 at 09:27
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7059 Points Posted on 26 August 2021
Hai thanks
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On 26 August 2021 at 11:39


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