Shivanand Steel Ltd is a leading manufacturer of stainless-steel bars in Bhopal, Madhya Pradesh. It was registered under Composition Scheme but on…

Shivanand Steel Ltd is a leading manufacturer of stainless-steel bars in Bhopal, Madhya Pradesh. It was registered under Composition Scheme but on July 15, 2024 the turnover of M/s Shivanand Steel Ltd. crossed - 1.50 Crore. Now Shivanand Steel Ltd is a registered person under regular scheme of GST w.e.f. July 15, 2024. Details of Stock as on 14 July, 2024 is as follows: Particulars Amount (₹) Raw Material purchases made as follows: 40,00,000 (i) Invoice dated 12 April, 202310,15,000 (ii) Invoice dated 18 November, 202314,50,000 from TS Traders registered in Bikaner, Jaipur (iii) Rest of Raw Material vide invoice dated 25 March, 2024 Input contained in Semi-Finished Goods 35,55,000 Input contained in Finished Goods 55,75,000 Capital Goods purchased vide Invoice dated 01 September, 2023 25,00,000 The Company is charging depreciation @ 10% on Straight Line Method. On 18th July, paid air fare of 20,000 for flight to Itanagar, Arunachal Pradesh in business class for manager who travelled for sales promotion of the firm. On 23rd June, 2024 Shivanand Steel Ltd got order from M/s Sunil and Company located in the city of Kanpur (U.P.). The goods were removed from the godown of Shivanand Steel Ltd. on 26th June, 2024 and an e-way bill is generated at 00:30 hrs. on 26th June, 2024. Assume that the distance from the godown of Shivanand Steel Ltd to location of M/s Sunil and Company is 403 km. One of the old customer of Shivanand Steel Ltd. Mr. Devdaas of Bhopal approached the company and requested to arrange the transportation of another goods purchased by him from a local supplier other than M/s Shivanand Steel Ltd. Shivanand Steel Ltd arranged the transportation of said goods for Mr. Devdaas through a truck owned by it for local transport of goods. Shivanand Steel Ltd. did not issue a consignment note to Mr. Devdaas. GST Rates under Regular Scheme of all goods and services (Including Capital Good) are: CGST SGST IGST 9% 9% 18% All amounts are exclusive of GST. All inputs & Capital Goods are intra-State purchases except wherever separately mentioned.