GST is profit or loss
Page no : 5
g mahesh Mundra
(Business and tax consultant)
(3296 Points)
Replied 05 October 2017
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 05 October 2017
Also i replied you can't claim CGST. Then why you again to again says the same as "understand query, Understand Query"....
Already I replied you ll sell it current date rete for the product....
The what you want exactly...?!
g mahesh Mundra
(Business and tax consultant)
(3296 Points)
Replied 05 October 2017
Nitin Ramchandani
(MBA(finance))
(397 Points)
Replied 05 October 2017
g mahesh Mundra
(Business and tax consultant)
(3296 Points)
Replied 05 October 2017
g mahesh Mundra
(Business and tax consultant)
(3296 Points)
Replied 05 October 2017
ACMA M.Abdul Khaliq
(CMA)
(214 Points)
Replied 05 October 2017
112 is your selling price in both the cases (SP is not changing)
112/1.28 = 87.5 is cost price under GST
112/14.5 = 97.8 is cost price under VAT
So your Closing stock gets less as per latest value yes its decreasing which means you are loosing value of Closing stock.
g mahesh Mundra
(Business and tax consultant)
(3296 Points)
Replied 05 October 2017
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