https://www.taxtmi.com/forum/issue?id=116305 Sale of migrated stock sold below book value raises GST rate and accounting issues. The advisory does not specify the applicable GST rate. Accounting treatment: credit inventory and debit Cost of Goods Sold for the book value; recognise revenue at the actual sale price by crediting revenue and debiting the customer account. Tax liability must be determined by applying GST classification and valuation rules to the transaction price. en-us Wed, 20 May 2020 13:41:10 +0530 Thu, 23 Jan 2025 15:54:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=116305 Sale of migrated stock sold below book value raises GST rate and accounting issues. The advisory does not specify the applicable GST rate. Accounting treatment: credit inventory and debit Cost of Goods Sold for the book value; recognise revenue at the actual sale price by crediting revenue and debiting the customer account. Tax liability must be determined by applying GST classification and valuation rules to the transaction price. Discussion-Forum GST Wed, 20 May 2020 13:41:10 +0530 https://www.taxtmi.com/forum/issue?id=116305