Input tax credit on closing stock

This query is : Resolved

Dilip Kumar Nazwani (Querist)
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23 October 2017 I was registered as a composition dealer before GST, but after GST I have opted for gst regular scheme. Can I claim input tax credit on closing stock lying with me on 30.06.17 ?

Please guide.

Thanks,

Dilip

CA Rohit Sinha

CA Rohit Sinha (Expert)
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24 October 2017 You will be eligible to claim credit on stock lying if following conditions satisfied-

1) duty / tax paying documents of such stock should be available with you.

2) Such document should not be issued before 01/07/2016.

3)Such input should be used for making taxable supply in GST

Dilip Kumar Nazwani

Dilip Kumar Nazwani (Querist)
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24 October 2017 How much input credit can I claim if I had products taxable @ 14.50 % before gst.