A company purchased a mobile phone costing over Rs. 1 Lakh for their director's office use. However, the phone was lost within two years. The discussion centres on whether the GST input tax credit initially claimed on this purchase needs to be reversed. The consensus is that reversal is indeed required.
20 March 2025
Mobile purchased for office use of director but lt lost within 2 Years , it cost above Rs. 1 Lakh whether GST Input taken should be reversed .