https://www.taxtmi.com/forum/issue?id=111827 Closing stock supported by duty paying documents entitles the trader to full input tax credit based on the balance stock value, provided the relevant invoice is not older than one year; no transfer of such credit to customers is required if transactions were completed before the appointed date and there is no time limit to clear the stock. Where closing stock lacks duty paying documentation, the trader cannot claim the 40% CGST concession when the goods are non duty paid despite having borne excise duty elements. en-us Mon, 24 Apr 2017 22:52:13 +0530 Thu, 23 Jan 2025 15:55:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=111827 Closing stock supported by duty paying documents entitles the trader to full input tax credit based on the balance stock value, provided the relevant invoice is not older than one year; no transfer of such credit to customers is required if transactions were completed before the appointed date and there is no time limit to clear the stock. Where closing stock lacks duty paying documentation, the trader cannot claim the 40% CGST concession when the goods are non duty paid despite having borne excise duty elements. Discussion-Forum GST Mon, 24 Apr 2017 22:52:13 +0530 https://www.taxtmi.com/forum/issue?id=111827