Gst input on closing stock
This query is : Resolved
20 June 2017
Dear expert I have closing stock of jewellery as on 31.7.2017. I have input vat paid at 1. To transfer this input to GST should I pay differential 2 ie new gst rate 3 minus vat rate 1. Pls clarify
21 June 2017
Not require to pay additional VAT of 2% to transfer the Credit as ITC. 1% of Credit will be available to you as SGST.
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