Question ID :
29573
GST Reversal on goods lost by fire
Hi
Goods worth of Rs.5 Crore got completed damaged in a fire accident. Whether GST CENVAT availed on those inputs to be reversed under GST regime as per section 17(5)(h) of CGST Act 2017? if so is there any method of calculating the same?
Posted by
CA. BALASUBRAMANIAM P
on
Apr 17, 2018
Filed Under
GST
yes you have to reverse the input for the goods got completed demaged in fire. calculation is simple if you calcalculate amount of goods lost.
Posted by
CA. SATISH CHAND GARG on
Apr 19, 2018