Mam,
I have stock of Rs 13 lacs as on 30/6/17 as shown in VAT Return of U.P. My advocate filed VAT Return upto 30/6/17. GST Returns are filed by me only. For the purpose of assessment of VAT Returns of the period 1/4/17 to 30/6/17, My advocate says that i should have shown stock of Rs 13 lacs somewhere in GST Returns in July’17 .
I have not filed the GST Trans-1 form since there was no ITC carry forward.
Query- i) Mam, where Closing stock of 13 lacs as on 30/6/17 will be shown in GST Returns ?
ii) Whether disclosure of Closing Stock as on 30/6/17 is required in GST Returns ?
iii) Whether Stock details should be given in GST Trans-1 ?
iv) My friend says that stock of 13 lacs as on 30/6/17 should have been given manually ( if not given through Returns ) to GST authorities when GST was implemented because If I don’t give stock amount to them how will they come to know about the Opening stock under GST Regime. So, whether he is correct ?
v) Whether I should give stock details as on 30/6/17 for GST purposes to GST officer now ??
Thanks a lot ..
Regards.
Disclosure was required in GST TRAN-1.
Now availing credit not permissable as time limit expired. However matter under litigation. Lets see SC order.
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