As per sec 145A, can i include GST in valuing closing stock for P.Y 2019-20?
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Quick Summary
This discussion clarifies whether GST can be included in the valuation of closing stock for the financial year 2019-20, particularly under Section 145A. The general rule is that if you have already claimed input tax credit (ITC) on that stock, you cannot include the GST in its value. This applies even if you are a regular GST dealer with a partially used electronic credit ledger.