Closing Stock lying with Branch, Goods and Services Tax - GST

[SURYAKANT MITHBAVKAR]

We have manufacturing of Pharma Machinery having branch within state.

As per GST Transitional Provisional Stock lying at the appointment of GST should not beyond one year from the appointment of GST Act.

In this regard, we have returned goods from our customer and same has been showing in form V register and lying as finished goods since last two years.

Can we transfer the same to our other branch on payment of excise duty and treated as input for that branch but this is not sale transaction.

Posts / Replies

[Himansu Sha]

Yes, you can do.

[KASTURI SETHI]

You can do so before 30.6.17. Thereafter, you will have to pay GST or IGST.