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Tin number- opening stock.

Querist : Anonymous (Querist) 15 January 2012 This query is : Resolved 
If a Retail dealer of XYZ goods do trade first year/ Ist F.Y without registration of Vat.
Let us suppose at the end of Ist F.Y he have Stock of Rs.100,0000. And he pay vat on purchases amount Rs. 12000 and accrue vat on sales amount Rs. 2000. He was not furnished any vat return during last year because he had not TIN/VAT number in Last Year.

Now he want to registered himself/proprietor
with VAT/Sales deptt.

Now my Ist Question is
1. Now, Where to show his opening stock of Rs. 10,00,000.
2. What is treatment of last year sales and purchase.
3. Can he get Vat refund in this C.Y.
Report Abuse
A V Vishal (Expert) 15 January 2012
Value of opening stock plus net of vat is the value to be adopted in the books of accounts.
Raj Kumar Makkad (Expert) 15 January 2012
I endorse the views of vishal.
M/s. Y-not legal services (Expert) 16 January 2012
am also agree with mr.vishal..

-tom-
Deepak Nair (Expert) 16 January 2012
Rightly advised by Mr.Vishal
prabhakar singh (Expert) 16 January 2012
nothing more to say.
soumitra basu (Expert) 17 January 2012
Question duly answered.

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