Zakat on business stock query
I sell personalised baby clothes from home. My question is if I have to give zakat on my stock (I buy in bulk to keep price low) and calculate according to the retail value, how would I take in to account personalisation because there is variation in price according to client preferences. The stock is only personalised when I get an order otherwise it is blank. Is it enough to work out Zakat on the blank stock?
بسم الله الرحمن الرحیم
Zakat will be calculated based on the market value of your stock on your Zakat anniversary. The market value is the amount for which something can be sold easily. Therefore, if your stock is not personalised on your Zakat anniversary, the stock will be valued accordingly. Likewise, if it is personalised, it will be valued accordingly. What matters is the market value of the stock as it is on the Zakat anniversary.
Allah knows best
22 Ramadan 1442 / 4 May 2021
Approved by: Mufti Shabbir Ahmed and Mufti Muhammad Tahir