A gst registered regular scheme dealer closing business.closing stock value rs.10 lacs.
Doubt:
1.closing stock value rs.10 lacs treatment in gst returns.
2.cancel of gst number after filed the gst returns.
Frah Saeed Answered question July 8, 2020
As per Sec 29(5) of the CGST Act, 2017 every registered person whose registration is cancelled shall pay an amount by way of debit in the ECr.L or ECL equivalent to the credit of ITC in r/o inputs held in stock or capital goods or P&M on the day immedeietly preceding the date of cancellation or the output tax payable on such goods, whichever is higher, calculated as pert Rule 44 of the CGST Rules, 2017.
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Frah Saeed Answered question July 8, 2020