What is the date that should be adopted for paying Zakat on trade goods: Is it the date the merchandise was bought, or the date of its possession, or the date trading began with it? And should the profit margin not exceed one third (33%), and if the profit for some items is low, is it permissible to increase the profit for other items to compensate for that?
For zakat to be obligatory on trade goods, certain conditions must be met: the value must reach the nisab (minimum threshold) by itself or when combined with other assets, a hawl (one lunar year) must have passed, the intention for trade must have been present at the time of purchase, and the goods must be owned through the owner's action. The hawl for trade goods begins on the day of purchase with the intention of trade. If a person had wealth that reached the nisab and then used it to purchase trade goods, the hawl for these goods begins from the day that wealth, which had already reached the nisab, was acquired. As for profit, there is no limit to it in trade, and a merchant should adorn himself with good morals in his dealings.
Summarized from the full answer at Ftawy · imported
Read the full answer on Ftawyhttps://ftawy.com/en/questions/56525
- Source platform
- Ftawy
- Original fatwa ID
- 56525
- Imported
- Translation status
- Source text, unreviewed
- Read the full ruling
- Read the full answer on Ftawy