closing stock as on 30.06.2017
Vijay Thakur (14 Points)
20 June 2017
what treatment of closing stock as on 30.06.2017
3 Replies
Binaykumar Sinha
(2 Points)
Replied 20 June 2017
Those who were filing returns under VAT or Central Excise, their closing balance as on 30.06.2017 would automatically be taken by GSTN as opening stock as on 01.07.2017. For others, there is a different mechanism under transitional provisions. No need for worry who have evidence for bonafide purchase/ownership.
Simi Keloth
(20 Points)
Replied 21 June 2017
If the stock is on consignment basis then what should do?
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