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what about holding period of old stock ? Is it 60 days or more ?
Replies (3)
As per transitional provision , dealer should keep in mind three periodic limit,. first - he has to submit stock form with in 90 days from the date of implementation of GST
2 Stock as on implementation date should to sold with in 180 days from the date of implementation and
3 Stock should not be older than one year
2 Stock as on implementation date should to sold with in 180 days from the date of implementation and
3 Stock should not be older than one year
three is no time limit prescribed for older stock. hence 3 point not applicable. pls refer new rules
As per new rule , for taking closing stock credit , dealer has to proov that stock should not be older than one year
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