Post by account_disabled on Feb 22, 2024 1:50:10 GMT -5
Simple: the event generating the ICMS charge is not consummated . It is not possible to collect the tax if the input was not sold, but was, in fact, lost. For this reason, in case of loss, it is necessary to inform the competent authorities of what happened, so that the ICMS credit can be reversed . This tax is not cumulative , which means that it is compensated for each transaction carried out with a commodity. If you stop to think about it, it makes perfect sense. After all, if the merchandise was not sold, the credit taken cannot be maintained. 3. How to report the loss of stock to the tax authorities? stock loss Communication to authorities is made through tax records. As the loss implies the reversal of the ICMS credit, the tax authorities must be notified of this. But the way of doing this has changed.
Until December 31, 2015, companies operating in the State of São Paulo could not issue an Exit Invoice when registering a write-off of inventory due to loss: the understanding is that the registration must be made in an internal document, duly Lebanon Mobile Number List accounted for. However, in 2016, the law was updated . As a result, the issuance of invoices to communicate the write-off of stock due to loss has become mandatory. The difference is that, in the observations field, it is necessary to inform that there was a loss, so that the ICMS credit is reversed. With digital tax registration mandatory in SPED , this information must also be entered there. Remember that physical books are outdated! There is nothing in the legislation that obliges the company to make a formal communication of the fact to the Revenue.
However, there are accountants who recommend submitting a declaration to avoid further problems. 4. Are there situations of stock loss in which it is necessary to act differently? Stock losses end up occurring in different ways, so attention must be doubled. It is common for companies to sell lost inputs to others, in the form of waste. If this is your case, be careful: the procedure to be carried out in these cases is normal sale, even if the commercial value of the items is reduced – therefore, the ICMS taxable event materializes. Another situation that can happen is loss in transit , known as an accident. In these cases, the ICMS triggering event has already occurred and there is no possibility of canceling the Exit Invoice. The appropriate procedure is to issue an Entry Invoice detailing everything that was lost.
Until December 31, 2015, companies operating in the State of São Paulo could not issue an Exit Invoice when registering a write-off of inventory due to loss: the understanding is that the registration must be made in an internal document, duly Lebanon Mobile Number List accounted for. However, in 2016, the law was updated . As a result, the issuance of invoices to communicate the write-off of stock due to loss has become mandatory. The difference is that, in the observations field, it is necessary to inform that there was a loss, so that the ICMS credit is reversed. With digital tax registration mandatory in SPED , this information must also be entered there. Remember that physical books are outdated! There is nothing in the legislation that obliges the company to make a formal communication of the fact to the Revenue.
However, there are accountants who recommend submitting a declaration to avoid further problems. 4. Are there situations of stock loss in which it is necessary to act differently? Stock losses end up occurring in different ways, so attention must be doubled. It is common for companies to sell lost inputs to others, in the form of waste. If this is your case, be careful: the procedure to be carried out in these cases is normal sale, even if the commercial value of the items is reduced – therefore, the ICMS taxable event materializes. Another situation that can happen is loss in transit , known as an accident. In these cases, the ICMS triggering event has already occurred and there is no possibility of canceling the Exit Invoice. The appropriate procedure is to issue an Entry Invoice detailing everything that was lost.