Inventory accounting in gst act
This query is : Resolved
14 September 2020
Inventory accounting records is compulsory for 1.5cr below turnover limit for composite dealer and regular scheme both type of Dealers in gst act.
15 September 2020
Stock accounting records are mandatory for every registered person under section 35 and rule 56.However, certain records like opening stock,receipts etc and goods w/off etc are not required to be maintained by composition dealer.
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