Sale return_ what if company closes

hiii.

we received some goods from a customer.. actually we will issue a credit note . but if the customer is going to close his company/LLP firm, then what is the situation..
Replies (1)
When you close down your business you need to surrender your GSTN & the closing stock if any lying on the date , the GST need to be deposited.

So , the company either reduces his ITC & paying tax on same or need to Deposit tax on closing balance , it hardly matter, Moreover the company is liable to file return till date of surrender of his GSTN .

So you are required to issue the CNT for goods return & reduce your tax liability

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
05 October 2026
Senior Accountant

Vision IT Peripherals Pvt Ltd

Mumbai

B.Com

View Details
Company
14 October 2026
Asst. Manager/Dy Manager (Costing)

manufacturing

Pune

CMA

View Details
Company
14 October 2026
GST & TDS ASSISTANT

AGGARWAL SANJAY & ASSOCIATES

New Delhi

B.Com

View Details
Company
19 October 2026
Accountants/Articles (Freshers/Experienced)

ADY & CO.

New Delhi

Graduate (Any)

View Details
Company
19 October 2026
Accountant

Jari Saree Center

New Delhi

Others

View Details
Company
ARTICLESHIP 28 September 2026
Junior Accountant

J S P M & Associates LLP

Pune

B.Com

View Details
Company
ARTICLESHIP 07 October 2026
Article Assistant

Malhotra Rajesh & Associates

New Delhi

B.Com

View Details
Company
30 September 2026
Senior Accounts Executive

Codeboard Technology

Chennai

MBA

View Details