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Impact of valuation on GST

13 September 2023

Auditor of a company wants to reduce valuation of stock because of significant drop in net realisable value [Impact INR 3 cr]. Weather any implications of GST ?

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Suresh Kumar (Account) (403 Points)
Replied 17 September 2023

There is no implication of GST.

Because, Company has already paid GST component of Stock Material to supplier subsequently these supplier filed GSTR 3B. so, suppressing stock value don't effect any GST revenue loss.

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