Opening stock tax allocation: invoice evidence or prescribed formula determines tax borne during transition period.

The rule fixes the amount of tax borne on opening stock either by reference to an invoice under the Delhi Sales Tax Act showing tax paid allocable to that stock, or, where no such invoice exists, by applying the formula F x P x 75%, where F = r/(r+100) with r being the tax rate under the Delhi Sales Tax Act applicable to the opening stock and P the price paid for the opening stock.

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