stock declere in cmp3
This query is : Open
02 August 2017
please reply this query
what will be tax treatment on closing stock that we will declere in cmp 3
if we have no itc acording existing vat law
we have only stock
i mean we have consume all itc of vat law and have only closing stock on apointed date of gst
and we migrate in gst as composition dealer
what will be tax treatment on closing stock that we will declere in cmp 3
if we have no itc acording existing vat law
we have only stock
i mean we have consume all itc of vat law and have only closing stock on apointed date of gst
and we migrate in gst as composition dealer
04 August 2017
The stock which you have may have excise duty. If the stock is directly purchased from the manufacturer, ITC for excise duty can be claimed.
04 August 2017
MAM PLEASE READ ONCE AGAIN MY QUERY
I AM MIGRATE AS COMPOSITION DEALER NOT AS NORMAL DEALER
I WANT TO KNOW ABOUT RCM ON CLOSING STOCK
I AM MIGRATE AS COMPOSITION DEALER NOT AS NORMAL DEALER
I WANT TO KNOW ABOUT RCM ON CLOSING STOCK
04 August 2017
As a composite dealer you cannot taken ITC but for the old stock you are holding you can take credit for excise.
04 August 2017
MAM
IF I HAVE NOT ANY ITC IN LAST VAT RETURN
AND HAVING ONLY CLOSING STOCK
THAN WHAT WILL BE TAX LAIBILITY ?
IF I HAVE NOT ANY ITC IN LAST VAT RETURN
AND HAVING ONLY CLOSING STOCK
THAN WHAT WILL BE TAX LAIBILITY ?
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