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
2 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177972 Points)
Replied 01 January 2018
No. The stock may be more than 23 lakhs by inclusion of exempted goods and over which pre-gst itc not availed......
CA Chandra Prakash
(9873059766 Increasing knowledge through sharing)
(296 Points)
Replied 01 January 2018
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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