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Transition provsion.
One of my client was selling b2b tax free goods under the old VAT regime; later such goods is taxable under GST @ 5 percent. so how can and how much ITC credit can be taken on stock in hand as on appointment date?
Replies (2)
As goods was tax free under old tax regime so no question arise to take credit.
that means that the tax on old stock is to be paid by dealer out of pocket.
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