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%
CAclubindia
