If someone has 5% taxabale rate stock as on 30th June and under GST it will be charged at 18%. Can anyone help with the procedure how he can credit of excess tax.
Debashish Sarkar
(Commercial Manager)
(220 Points)
Replied 13 July 2017
This kind of credit is not allowed. However, you can take the credit of Closing stock as on 30.06.2017 as per the calculation provided in the rule.
ashok aggarwal
(21 Points)
Replied 13 July 2017
CAclubindia
