Dear sir,
Please clarify Im a textile businessman , I have a stock of Rs 20 lacs as on 1 July 2017 , I have not paid any VAT or Excise on the said stock but paid Entry tax on the same , Out of this 20 lacs stock Rs 5 lac is a dead stock carried from previous year ,
Clarification required : will I be eligible for Input credit on the said stock as I have paid Entry tax , if yes whether 40% will be allowed or 100% credit will be allow
CAclubindia
