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ITC on Goods lost due to fire

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(Querist)
12 September 2008 What will be the procedure for input taken on goods which have been lost due to fire occured in the factory....
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Radhika

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Radhika (Expert)
12 September 2008 On Lost Goods No Input Credit Can be Taken
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CA. Sonali Gupta

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CA. Sonali Gupta (Querist)
12 September 2008 reply...
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CA. O.P. Agarwalla

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CA. O.P. Agarwalla (Expert)
15 September 2008 As most of the queriests are doing, you have also not mentioned the name of concerned State.

However, if there is no specific instructions in this regard, it is advisable that you adjust the amount of ITC to be reversed aginst the ITC of the month in which the fire ocurred.
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