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Cst on closing stock

Guru (Head Accounts) (37 Points)

09 March 2017

Hi ,

What would be treatment for the credit availability on the CST paid on closing stock at the end of June 2017. Any working method is prescribed by the department.

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CA RAJNISH KUMAR SHARMA (senior Team Member) (43 Points)
Replied 09 March 2017

Dear ,

why are you working of CST pain closing stock and what is your intention behind this . I think CST is not creditible right now so we could not take credit of CST in GST regime .

if you have any clarification about this please type .

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Madhukar N Hiregange (Chartered Accountant) (39034 Points)
Replied 13 March 2017

CST paid on stocks is not allowed as claim for credit as per present revised law of November 2016. In the last week/month of June 17, if CST transactions are postponed then one maybe able to save 2%.