A Gst registration regular scheme dealer stock value mentioned below as on Dt.31.03.2020
1.stock value as per accounting books rs.10 lacs.
2.dealer verify physical stock value rs.11,50,000/-.
Difference stock value rs.1,50,000/- adjustment producure in books and gst returns.
Frah Saeed Answered question May 14, 2020
The basic thrust of GST reco is reco of the incomes with the value of which GST is paid and not directly the stock.
What is reason of difference of Rs 1,50,000/- ?? Whether it has affected the income booked?? If no impact on turnover, then no impact on GST..
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Frah Saeed Answered question May 14, 2020