Zakaat – Business and Debt

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Question:

Assalam o alaikum

I have a small business in which some stock is on finance. Do i need to deduct whatever  amount is owing at the time zakah is due? Likewise is the same applied to credit card owing amounts?
Jazak Allah

 

Answer:

وعليكم السلام ورحمة الله وبركاته

Yes, that is correct. All the business liabilities will be deducted and Zakāh calculated on the remaining value of the stock.

And Allah Ta’ala knows best.
Shaykh Shabir Moosa

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