Closing stock

credit will not be available.
At present final product Is exempt then u would not have carry forward the tax credit in the return .
for tax credit to be claimed it should be allowed under the existing act and it should be eligible under gst

if your final product is exempted, you are not eligable for input tax credit

No credit available if final produvt is fully exempt

input tax credit is available in gst sinario only if said stock is taxable as per present act the authority to claim is covered under transitional provisions.

if you are not registered on existing excise or vat law than you can take

sorry for incomplete answer...

if you are not registered in existing excise law than you can still take credit fully on raw material if you have invoices for the same....
however you can claim only for those items which are yet in your stock and invoices for which are not older than 12 month....
even if you somehow lost the invoice you can take credit upto 60% of the amount subject to certain condition......hence if anybody are having any good whose invoice is older than 12 month he could exercise 60% option...something is better than nothing.
BUT NO VAT CREDIT WILL BE AVAILABLE FOR THE EXEMPTED GOODS.......