How calculate input tax refund if Stock 2000000 value last 5 year old?

My business ready made garments. Stock 2000000 value last 5 year old. how to calculate input tax refund.

Add Comment
3 Answer(s)

If u hv taken credit in ur previous VAT returns and goods are in books of account too,then u will get credit. but if u haven\’t taken credit before or the stock is purchased outside state then u ll not get credit of stock older then 1 year.

Answered on June 10, 2017.
Add Comment

No input tax credit for stock above one year

Answered on June 10, 2017.
Add Comment

Since stock.is old more than a year ,you will not credit

Answered on June 10, 2017.
Add Comment

Your Answer

Gen GST