https://www.taxtmi.com/forum/issue?id=116011 Discrepancies where physical stock exceeds books trigger GST record keeping obligations and can attract penalties under CGST/SGST for procedural non compliance even absent revenue loss; tax applies on supply, so excess stock accounted after verification requires reconciliation, corrective accounting, and documentation to demonstrate absence of undisclosed supply, otherwise departmental scrutiny, tax adjustments and penalties may follow. en-us Wed, 12 Feb 2020 10:58:01 +0530 Thu, 23 Jan 2025 15:54:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=116011 Discrepancies where physical stock exceeds books trigger GST record keeping obligations and can attract penalties under CGST/SGST for procedural non compliance even absent revenue loss; tax applies on supply, so excess stock accounted after verification requires reconciliation, corrective accounting, and documentation to demonstrate absence of undisclosed supply, otherwise departmental scrutiny, tax adjustments and penalties may follow. Discussion-Forum GST Wed, 12 Feb 2020 10:58:01 +0530 https://www.taxtmi.com/forum/issue?id=116011