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

Input tax credit eligibility for CST paid stocks: draft rules indicate no credit; GST payable on sale.
CST-paid stocks on which excise was not applicable are, per draft transitional rules, ineligible for input tax credit under GST; GST is to be accounted for at the time of sale rather than as a transitional credit on stock held, subject to final enactment of the rules.