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can i sale my old stock items without define the stock. if yes then is their any time limit to sale it
Replies (4)
no time limit for sale limit only for old ITC claim
No time limit for the sale in your query.
can i avail input tax on my vat purchase old stocks.
For example i have purchased 50 units @ 400 per unit @ 5%vat rate ( Total purchase tax @ 5% is 1000) & made sale 40 units @ 560 per unit @ 5% vat rate ( sales tax for 40 units @ 5% is 1120) & diposited the difference tax (120)to my state sale tax department at the time of return.
So can i take the rest 10 units of goods to my GST tax & avail any tax credit for the same as now the tax rate for same goods is 18%
For example i have purchased 50 units @ 400 per unit @ 5%vat rate ( Total purchase tax @ 5% is 1000) & made sale 40 units @ 560 per unit @ 5% vat rate ( sales tax for 40 units @ 5% is 1120) & diposited the difference tax (120)to my state sale tax department at the time of return.
So can i take the rest 10 units of goods to my GST tax & avail any tax credit for the same as now the tax rate for same goods is 18%
You can avail ITC , if stock photois related to the goods which has been purchase, after 01 July 2016.
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