GST implications on goods damaged in fire
This query is : Resolved
16 February 2020
XYZ is a manufacturer and is registered with GST. Fire broke out ay his manufacturing unit and the 1) Raw Material, 2) Semi – finished Goods and 3) Finished goods got damaged in the fire. These goods now they want to destroy being unusable. What is the action to be taken against each item as per GST provisions?
16 February 2020
You have to reverse the ITC on the goods lost in fire.
17 February 2020
yes reverse the itc on goods damaged.
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