Explain concept of 40% and 60% credit on closing stock, available on which goods?

Can anyone please explain me concept of 40% and 60% credit on closing stock is available on which goods?

Add Comment
2 Answer(s)

Below 18% tax gst products -40% Above 18% tax gst products -60%.

Answered on June 9, 2017.
Add Comment

If proper documents are maintained and vat return is filled, can\’t we get full credit of vat?

Answered on June 9, 2017.
Add Comment

Your Answer

Gen GST