Sec 18 of cgst act

shilpi (student) (780 Points)

26 February 2018  

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 ?