input tax credit
This query is : Resolved
11 October 2017
i have paid for 100 units of goods .
but received 95 units .
5 units lost in wastage
.
how adjustment will be made in GST ?
11 October 2017
Issue credit note for same.....
11 October 2017
Sorry to say different answer....
The waste of 5 units is returned to your supplier then you ll give debit note to your supplier...
If it's not returnable and it's based on your business nature. You ll be revise the ITC in return.....
(Wait on Suggestions from CA Rashmi Gandhi)
Message likes :
1 times
11 October 2017
Very much agreed to Raja PM.
Actually i read the whole query after replying as you already paid the amount then no need to issue debit note.
You have to revisw your ITC in this case.
11 October 2017
No ITC available for lost or destroyed goods.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Capital gain from sale of house property
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- TDS on Purchase of Immovable Property by NRI from NRI
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- LC charges in relation to Asset purchased should be Capitalised ?
- Annual return in Gst
- Transporter Declaration form
- Regarding TDS Applicability For Director Remuneration
- Opting our of sec 44AD
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
