203.            Mr A was importing fabrics from China paying countervailing duty u/s 3(1) @ 12% and u/s 3(5) @ 4% before 1st July 2017. discuss:

What will happen to the stock lying after migration to GST Act. Whether any credit will be available to the importer of such fabrics?

After migration,  Mr A will pay the applicable rate of GST on supply of his goods. The importer after migration to the GST Act, will be able to take credit of the countervailing duties u/s 3(1) and 3(5) in the form of CGST.