we can take input b/f in GST of closing stock as on 30june 2017.
I am traders purchase goods from manufacturer we pay VAT + EXCISE BUT WE TAKE INPUT OF VAT. NOW WE CAN TAKE INPUT ( VAT + EXCISE) OF CLOSING STOCK AS ON 30 JUNE 2017
The closing balance of Input VAT Credit available on the last day, prior to the date on GST is implemented, can be carried forward to GST. Carried forward of VAT Input credit will be treated as SGST Input Credit under GST regime. The closing balance of credit should be shown in the last return of VAT. The carry forward is allowed only if such types of credit is also admissible under GST Act
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