adjustment
Akash Gupta (135 Points)
03 June 2017
how to adjust closing stock of fabrics which were exempted before gst and now is under gst
1 Replies
CA NEHA RAMPURIA
(Taxation Consultant)
(1823 Points)
Replied 03 June 2017
on fabrics no tax was levied. they were exempted.
1) no VAT returns had to b filed
2) no excise duty and vat was also leviable.
Since no tax was charged earlier. Hence no adjustments are required.
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