15th June 2015
السلام عليكم و رحمة الله و بركاته
Question: My question is about Zakāt for shops, like book stores, general stores, medical stores etc. First question is, is Zakāt payable on inventory in the shop or income of the shop?
Secondly, if it is on inventory or “goods for sale” which goes up and down every month plus it is not possible to calculate the exact value of items then how to give Zakāt?
الجواب حامداً و مصلياً
In the name of Allāh, the Most Gracious, the Most Merciful
Answer
In reference to your query, Zakāt is calculated on the inventory (current market) value of the business stocks. If it is the case where the market value fluctuates throughout the year then the simplest method to calculate the amount of Zakāt would be to evaluate the current market value towards the end of the lunar year. To illustrate this, for instance, the market value of a particular item was £100 at the beginning of Ramadhān 2014. The market value then increased to £150 by Ramadhān 2015 then the Zakāt will be calculated on the value of £150. In short, the market value at the end of the year when Zakāt is due is considered and not the fluctuating value throughout the year.
[Allāh Knows Best]
Written by (Mufti) Abdul Waheed
Answer Attested by Shaykh Mufti Saiful Islam
JKN Fatawa Department