GST Impact of closing stock on which vat has already been paid on 1st July 2017

By | June 6, 2017
(Last Updated On: June 6, 2017)

Q: what will be the impact of closing stock which has been already paid vat on 1st July 2017 ?

The supplier would be eligible to carry forward ITC on such stock and would be liable to pay GST when supplied in new regime.

[ Reply as per Twitter Account of Govt of India for GST queries of Taxpayers ]

GST Impact of closing stock on which vat has already been paid on 1st July 2017

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