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Gst effect on closing stock
How GST Effect the closing stock having Tax paid under earlier Law.
Like if Vat Paid @ 5% on closing stock. and now sales done under GST @ new rate say,18%. then input allowed by which rate.???
Replies (1)
If a trader is under registration earlier then he would have availed the credit which can be carried forward into GST.
If he has not regitered then on his stosk the VAT paid will be allowed subject to evidence of payment of tax.
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