Hi. I am into Tyre Business. And I had a closing stock of 15-20 (Apprx) Lakh as on 30th June 2017. Now my queries are as follows:

1. How I could avail 100% ITC on closing stock, where as my company has agreed to provide us "Excise duty" invoice from May 2017. What will happen to rest of the stock?

FYI: I have all the VAT paid purchase invoice since June 2016, will it be considered to get 100% ITC in above scenario.

2. IF I could not get 100% ITC on closing stock then what should I supposed to do to get.

Regards

Chandrajit