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Regarding payment of tax on closing stock

This query is : Resolved 
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(Querist)
31 May 2019 I'm composition dealer . I had migrated from VAT to composition scheme. Now I am served with a notice from excise department to deposit tax on closing stock as on 30 June 2017. Do I have to deposit tax?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
02 June 2019 If you are a manufacturer not paid excise duty earlier on stock held you have to pay excise duty.
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Vikas

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Vikas (Querist)
03 June 2019 No. i m in a retail business of readymade garments.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
03 June 2019 If you have claimed VAT credit on stock held on 30/06/2017 you have to deposit that amount as per notice.

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