Suppose ABC Company Pvt Ltd is a trading concern & its registered under GST.
The said company in pre-gst regim was an excise dealer & on migration, the company has claimed the input of Excise duty from Stock-in Hand as on 30/06/2017 through Trans-1.
Now my qusetion is , how the transitional input claimed to be shown in the books of accounts?
What will be its impact on finalization of accounts as on 31/03/2018?
Sholud the credit claimed to be booked as profit in P & L subsequently debiting the CGST input a/c ?
or the stock value to be reduced?
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