Input credit on closing stock as on appointed date
Query (Issue) Started By: – Govind Gupta Dated:- 24-4-2017 Last Reply Date:- 25-4-2017 Goods and Services Tax – GST
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GST
Dear Sirs
As we are trader and currently not eligible for input tax credit of CVD paid on our imports and ED paid on local purchases, what is the process of computation of credit to be claimed under GST, also as we know, there are two options for your total inventory
1. if you have duty paying document for the closing stock of inventory,
a. you are eligible for full credit ( what will the value of credit, is it what we have actually paid or some other computed value)
b. does this stock need to be less than 1 year old
c. do we need to transfer
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