Sec 18 (1)(a)of CGST ACT ,provides for entitlement of ITC at the time of registration to the eligible persons on the inputs held in stock as on the day immediately preceding the date from which becomes liable to pay tax.
My query is ",which stock is to be taken into consideration of the preceding date ".Is it closing stock of preceding date ?
YES YOU R RIGHT IT IS CLOSING STOCK.
A R JADHAV AND ASSOCIATES
Mumbai
CA Inter
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Triveni Turbine Limited
Bengaluru
CA
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SKAA & Associates
New Delhi
CA Inter
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