02 June 2026
Dear Sir, Suppose a brick klin owner purchased the coal of Rs. 100000/- during the fy 2022-23 and he consumed coal only of Rs 50000/- during the fy 2022-23. and adjusted whole itc paid on purchase of coal of Rs. 100000/-, agaist out put tax liability of 2022-23 and 50000/- coal was in balance on 31/03/2023. In 2023-24 he opted 6% slab without adjustment of itc. Whether he has to reverse the itc on balance on coal stock of Rs. 50000/- ?