What is Tax Payable on Stock in Cancellation of GST of Registration?

Registration 323 views 4 replies

Dear Experts,

I am a Composite taxpayer under GST and my September, 19 return is filed. My annual turnover is below the GST threshold limit i.e. Rs. 40 lakhs every year. That’s why I am going to cancel my GST registration under the reason for cancellation ‘Ceased to be liable to pay tax’ and the date from which registration is to be cancelled is 01.09.2019. My stock value is Rs. 710000/- as on 01.09.2019 and I purchase goods @ 5% GST. What should I enter in the Tax Payable on Stock table in the Cancellation details step? See the image attached for better understanding.


Attached File : 1497443 20190929184805 tax payable on stock 2.jpg downloaded: 69 times
Replies (4)
But .Composit Dealer Are Not required to Pay Tax on Stock .

@ Pankaj Rawat, so I can leave that table as it is. Right?

Even though you furnish the stock detail it wont ask you for tax to be deposit
@ Pankaj Rawat, you are absolutely correct sir.


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