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Thanks
Dear Expert,
good evening,
we have been running our firm for last 9 years and our competitors have been running their firm for last 5 years and now they want to include their firm into ours, hence i request you to kindly tell me the procedure under GST act on the closing stock
some are saying the entire closing stock of my competitors has to be written as sale to my firm and the we need to claim the same as input, is it correct?
some are saying, it will be a stock transfer since entire firm is going to merge into my firm, hence they are bringing their stock as their capital into our firm, hence it shall not be considered as sale,
hence please let me know the procedure and the method to be adopted for merging and stock valuation,
thanking you,
yours truly,
rajesh jakka
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