stocks held

[Arun Aggarwal]

Sir

I would be holding stocks which will be CST paid with no excise applicable, when GST comes in,

I would like to know my status, can I take the input in GST of cst and.or I have to pay GST on balance stocks or have to pay GST at the time of sale?

Arun

AI Summary

GST Update: No Input Credit for CST-Paid Stocks Without Excise Duty; GST Payable on Sale, Not Existing Stock. A participant inquired about the treatment of stocks under the Goods and Services Tax (GST) regime, specifically whether they could claim input credit for Central Sales Tax (CST) paid stocks with no excise duty. One respondent advised waiting for the final rules as they were still being framed. Another respondent clarified that credit for CST-paid stocks without excise duty is not eligible under GST, and GST would be payable at the time of sale, not on the existing stock.