DEAR ALL,
WE HAVE TAKEN INPUT CREDIT OF RS 23.00 LAKHS ON EXISTING STOCK AS ON 30-06-2017 , PLEASE UPDATE WHETHER WE HAVE THE OPENING STOCK VALUE AS ON 01-07-2017 TO THE TUNE OF RS 23.00 LAKHS IN ORDER TO ADJUST PROFIT AND LOSS ACCOUNT
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Opening stock
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No. The stock may be more than 23 lakhs by inclusion of exempted goods and over which pre-gst itc not availed......
you have taken the credit of Rs. 23 lakh means stock value is much more than that value on 30.06.2017.
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