Gst on stockintrade

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none
23 Points Joined September 2013

My father who was a sole proprietor recently passed away. In his books he had a stock of around 1 crore. Though there is no physical stock neither there is any major balance of input tax credit.

Now how can I close his books and surrender his Gst number? 

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On 15 June 2022 at 22:30 Report
Replies (29)
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Chartered Accountant
86505 Points Joined April 2011
If you want to close the business , you have to pay tax on your stock. Better take new GST, transfer stock and ITC from one business to other and
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On 15 June 2022 at 23:17
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CFO- at NHTF
58280 Points Joined August 2012
Check with the physical stock verification report.

Whether books and stock report shows same stock ?

If not what happened to stock ?
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On 16 June 2022 at 07:05
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28022 Points Joined May 2017
The stock remaining as finished goods or raw material . If you hv paid gst on raw material that is remaining . That is absolutely ok. In case of finished goods. output gst needs to be paid.
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On 16 June 2022 at 07:05
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CFO- at NHTF
58280 Points Joined August 2012
Prepare reconciliation statement
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On 16 June 2022 at 07:13
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Chartered Accountant
86505 Points Joined April 2011
If you don't have clarity on some topic why you replied unnecessarily.

The query is quite different than your reply .
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On 16 June 2022 at 07:46
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CFO- at NHTF
58280 Points Joined August 2012
You give answers good for nothing. In what way your reply is relevant
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On 16 June 2022 at 08:05
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Chartered Accountant
86505 Points Joined April 2011
Here query is on stock available in GST firm whose owner died, and you are tellin about physical stock verification & reconciliation statement and bla bla bla.......
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On 16 June 2022 at 08:12
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CFO- at NHTF
58280 Points Joined August 2012
Queriest also told that stock is not available actually.How do you compare the stock in books ?

Don't you require stock verification report?

If it is not sold and it's not available in books , then what happened to stock ?
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On 16 June 2022 at 08:16
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Chartered Accountant
86505 Points Joined April 2011
So he replied only after reconciling, he is not just assuming and presuming like you.
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On 16 June 2022 at 08:29
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CFO- at NHTF
58280 Points Joined August 2012
There is no professional answers from you .

Are you really CA or just added degree in name for advertisement
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On 16 June 2022 at 08:43
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Chartered Accountant
86505 Points Joined April 2011
No certifcation required from your side
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On 16 June 2022 at 08:44
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CFO- at NHTF
58280 Points Joined August 2012
Even Normal person doubt you whether you are professional
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On 16 June 2022 at 08:52
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Chartered Accountant
86505 Points Joined April 2011
Make healthy discussion if you can, no need to justify you on my certifcation
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On 16 June 2022 at 09:28
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CFO- at NHTF
58280 Points Joined August 2012
You only started the unhealthy discussion. Hope you realised now
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On 16 June 2022 at 12:59


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