Reversal of ITC in case of goods lost by fire

Pradeep Jain | Last updated: 11 December 2017

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In GST regime, the scope of definition of inputs, capital goods and input services is very wide and covers almost all the imaginable goods and services that are directly or indirectly used in course or furtherance of business. However, section 17(5) prescribes a list of goods or services on which ITC is not admissible. The opening para of section 17(5) of CGST Act, 2017 reads as follows:- (5) Notwithstanding anything contained in sub-section (1) of section 16 and subsection (1) of section 18,

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1 Year PLAN

1999

(Excl. of GST ₹359)

BEST VALUE

2 Years PLAN

3499

(Excl. of GST ₹629)

3 Months PLAN

999

(Excl. of GST ₹179)

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Pradeep Jain

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