input credit on stock for the product being taxed first time
This query is : Resolved
21 June 2017
As there was no tax on cloth, with implimentation of gst it will be taxed @ 5% . So what is the treatment of stock in hand on 1st july? whether input credit avaliable on full amount ??
CMA Ramesh Krishnan
(Expert)
21 June 2017
Yes. incase your product comes under tax, the you are eligible to take input credit available on stock as on 30th June
CMA Ramesh Krishnan
(Expert)
21 June 2017
If you have the complete duty paid documents & all the credits with in 12 months then you can take full amount
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