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Input tax credit on closing stock

Goods and Services Tax - Started By: - Umesh Golecha - Dated:- 16-7-2017 Last Replied Date:- 17-7-2017 - dear sir our client is a retailer dealing in textile and ready made garments . since fabric is exempt from excise can we claim credit on the stoc .....

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mpted during Central Excise era, Fabric contain duty paid inputs i.e. chemical, dye, yarn or fibre etc. So you can get 40% or 60% credit after intimation of the stock (as on 30.6.17) to the department. At present both textile and ready made garments .....

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