query about itc on unsold stock
This query is : Resolved
MOHAMMED ASGAR Bhati
(Querist)
29 June 2017
Plz help , m i corect?
I am importing goods for resale paying custom duty (cvd+sad)
I have 50lakh stock unsold as of today.
Out of which 30lakh is imported in last 6months
10lakh old stock of more den 12months
10lkah worth stock i purchaed from other loca importers in last 3months
So
On 30lakh import goods (100% itc ) all duty docs avlbl
On 10lakh local purchs (40-60% itc)
On 10lakh old stock (no itc)
Am i correct?
Amol S Joglekar
(Expert)
29 June 2017
yes, you are right. You can get the ITC
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