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Home > Margerp > General Queries > What will happen to the old/pending stock & whether any Tax credit will be received or not for the old stock?
What will happen to the old/pending stock & whether any Tax credit will be received or not for the old stock?
The date of invoices or any other prescribed duty / taxpaying documents is within 12 months from the date of transitioning to GST. The supplier of services is not eligible for any abatement under the act.
Companies can get credit of up to 40 per cent of their goods and services tax liability against excise duty already paid (You need to have documents of purchasing goods) on stocks lying with traders or retailers when GST is rolled out.
