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ITC for old stock
I'm a bearing dealer 60% of my stock are more than 2 years old. Earlier VAT was 5% now GST is 18%. Is it possible for me to avail ITC for stock older than 2 years?
Replies (2)
No
you can not get credit on the stocks which u held from more than 12 months prior to Appointed date i.e 1-07-2017.
you can not get credit on the stocks which u held from more than 12 months prior to Appointed date i.e 1-07-2017.
sir, there is any other way to convert my old more 12 months stock to new stock by billing to others
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