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Zakaat on Dead Stock

Answered according to Hanafi Fiqh by Askmufti.co.za

Q: Zakaat was calculated on ‘dead’ stock that was valued at about R50,000.00 and when auctioned later, was sold for a mere R2000. The zakaat is still being discharged monthly and has not yet been fully paid. Does the amount still remain the same as originally calculated or would it have to be altered?

A: At the time of calculation, you had to value the stock according to its current market-related value. In other words, the true value would be the price those goods would have fetched had it been sold in bulk to a prospective buyer at the time of calculating your zakaat. If you are able to ascertain that value at this stage then adjust your zakaat accordingly.

This answer was collected from AskMufti.co.za, which is operated under the supervision of Mufti Siraj Desai of Darul-Uloom Abubakr, South Africa.

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