Gst on closing stock for cloth merchant
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 August 2017
I AM CLOTH MERCHANT. MY SALE IN LAST YEAR IS 40 LAC AND IN THIS YEAR UP TO TILL DATE TURNOVER IS 18 LAC. NOW I WILL APPLY FOR GST IN VOLETARY PROCESS AND IN COMPOSITION SCHEME. TODAY MY STOCK IS AROUND 12 LAC, IF I CAN APPLY FOR COMPOSITION SCHEME THAN WHAT IS GST RATE WILL BE PAID ON OLD STOCK I.E 5 % OR 1 %.
5
5
03 August 2017
The rate under composition will be 1%.
03 August 2017
You have to pay 5% on stock purchase from Unregister dealer..
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- SEC 54 OF IT ACT
- REGARDING GST ON COMMERICIAL PROPERTY
- Form 26QB for TDS on property
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- DTCP approval
- GST Annual Returns filing due date
- GST rate for millets.
- Capital gain consideration
- Donation Receipt u/s 80G
- Whether still royalty
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
