Stock quantity records with GSTN government portal
watch_later 1 year, 1 month ago
Every tax payer filing the GST returns will need to upload details of each inward and outward supplies with product HSN and quantity.
This implies that at any given point of time the details of stock in hand will be available with government department.
Will this avoid false or undisclosed sales (black or 2 number sales)?
Will it stop the traditional practice of buying and selling bills without movement of goods?
It is evident from the formats provided that government will have stock details with them. However it should be noticed that stock details will be available only up to the point of last return filed and not up to the any given point of time.
However for bigger companies E-way bill will enable government to have near to accurate count of inventory in hand.
Although this will reduce the malpractices of trading in bills but is not full proof.
With time GST will evolve and be able to control such malpractices at larger scale.
You need to be logged in to answer.
- refund of itc on pre-export sales
- GST on penalty
- GSTIN by Name
- conversion from composition to general
- Plywood ka g s t kaise nikalte hai
- SEARCH GST NO. WITH PAN
- Gst practitioner exam
- We are getting responses for just 2 requests in 15 minutes
- Agriculture bore repair
- GST Eway bill Compile error in Hidden module sheet 3 and date format error solved
- API for getting GSTIN Details, Validate GST number
- GSP and ASP model of GSTN is injustice with startups and small businesses
- GST helpline customer care and contact number
- E-way bill in case of Bill to Ship to transactions
- Basic E-way rules and FAQ
- What is GST?
- GST Suvidha Kendra
- Documents required for GST registration
- Frauds possible under GST?
BUY DSC FOR MCA, IT AND GST
Experience KnowyourGST services. Apply for DSC and get it on same day. We promise fastest delivery of your DSC.
Whatsapp - 73386 33003
Telegram - @knowyourgst
Contact us on Whatsapp and Telegram number 7338633003 for quick reply.