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How to calculate business commodities for zakah?

Answered as per Hanafi Fiqh by Darulifta-Deoband.com
I run a carpet business. Want to ask how shall I calculate for zakah, based on my buying price which I paid to wholesalers or selling price which I’m going to sell to my customers? And which will be the real value of my stock ? I’m confused that some say I should pay on buying price and some say I should pay on selling price!

بسم الله الرحمن الرحيم

(Fatwa: 1266/1043/L=9/1439)

Sale price will be taken into consideration in paying zakah not the purchase price. Thus while paying zakah whatsoever rate is of business materials in the market you should pay your zakah as per that rate.

وتعتبر القيمة يوم الوجوب وقالا يوم الأداء وفى السوائم يوم الأداء إجماعا وهو الأصح ويقوم فى البلد الذى المال فيه ولو فى مفازة (رد المحتار ج : 2 : ص: 211، ط: سعيديه)

Allah knows Best!

Darul Ifta,
Darul Uloom Deoband

This answer was collected from the official ifta website of Darul Uloom Deoband in India.

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