How do I calculate Zakaat on stock?

DWQA QuestionsCategory: zakaatHow do I calculate Zakaat on stock?
admin Staff asked 8 months ago

I have a stock of goods which I bought on credit facilities without interest. How do I calculate the Zakaat on the stock?

1 Answers
admin Staff answered 8 months ago

Evaluate the stock at market selling price (invoice price) as at 1st Ramadhaan. Then deduct the creditors amount from that. Zakaat due is 2.5% on net.