Input tax credit on closing stock

be specific explore all the law interpret

if any registered VAT dealer purchasing under CST 2% or CST 14.5% full tax what is the score

if any stage wise Excise registered  purchasing under CST as above and local VAT what is the situation

if exempted how he will take

if ITC is taken on as above will it be considered as income because Govt is allowing as a credit , you have already booked as expenses .

on this ITC any income tax is applicable