g mahesh Mundra
(Business and tax consultant)
(3293 Points)
Replied 05 October 2017
RAJA P M
("Do the Right Thing...!!!")
(127977 Points)
Replied 05 October 2017
g mahesh Mundra
(Business and tax consultant)
(3293 Points)
Replied 05 October 2017
Nitin Ramchandani
(MBA(finance))
(397 Points)
Replied 05 October 2017
g mahesh Mundra
(Business and tax consultant)
(3293 Points)
Replied 05 October 2017
g mahesh Mundra
(Business and tax consultant)
(3293 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)
(3293 Points)
Replied 05 October 2017
Analysis of 20 GST Notices (including 2 Appeals) and Practise on Drafting(with recording)