How much input we will get on stocks held on 30th June? We have stocks that is tax paid on MRP (5.5%).
I am a distributor dealing in Medicines. We have stocks that is tax paid on MRP (5.5%) at first point . We don’t take input credit currently. Now tell us how much input we will get on the stocks held on 30th June.
As far as stock credit is concerned you will get 100% of credit of VAT under SGST act… and even 100% of credit on Excise if you have Excise paid bills… if not you will get 60 % Excise credit on 28% slab and 40% credit in less than 18% slab … under CGST act