JJ Consultants (28 Points)25 June 2017
Replied 25 June 2017
Umesh V Naig
Replied 26 June 2017
not all the closing stock declared as on 30.6.17 ITC is allowed, only on despatch and sale from July
you are allowed to take 60% /or 40% there is provision you can follow the same.
as a business entity you can not show nil closing stock hence please show cl but dont
claim any ITC on supplies from July 17 onwards