Fatwa ID: 04249
Answered by: Imam Abdul-Malik Sheikh
If one is waiting for his shipment of goods and his zakat is due. Does he give zakat on these goods?
بِسْمِ اللهِ الرَّحْمنِ الرَّحِيْم
In the name of Allah, the Most Gracious, the Most Merciful
If your question relates to trade goods, then you should know that Zakat is obligatory on goods for trade. Once you have possession of the goods you should calculate the value in trade after the passing of one lunar year. There will be no Zakat if the goods are not in stock in your possession.
Whatever the goods maybe when their value reaches the niṣāb of silver or gold Zakat needs to be paid. The value of the goods for trade is valued, according to whichever of the two is more beneficial for the poor and the destitute.
Al-Fatawa Al-Hindiyyah, Vol.1, p.179, Dar al-Fikt, Beirut
Only Allah knows best
Written by Imam Abdul-Malik Sheikh
Checked and approved by Mufti Mohammed Tosir Miah
Darul Ifta Birmingham