What about old stock after implementation of GST? If the goods are taxable under gst?

What about old stock after implementation of GST? If the goods are taxable under gst?

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2 Answer(s)

In this case you have to collect the tax from customer and pay it to govt.

Answered on June 6, 2017.
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Assuming that the current stock was not dutiable on any existing law and now dutiable in exiting Gst law Then in that case to claim 40% of cgst credit on the stock value sold the same value should have been pass on to the consumer Also compliance of Gst trans 01 and stock sold record for next 6 tax period For more detail read section 140 and rules Thanks Tanmay Happy studying

Answered on June 6, 2017.
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Gen GST