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About exempted good now in gst which is taxable
I HAVE EXEMPTED STOCK OF 20 LAKH OF FABRIC NOW IN GST I WANT TO GO FOR COMPOSITION , NOW UNDER GST IT IS A TAXABLE GOODS, SO FOR DECLARING STOCK OF 20 LAKH WHETHER ANY TAX LIABLITY ARISES ??
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No tax liability on stock. Text liability arises on selling the same after 1st july.
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