Gst itc on destroyed goods

prasad Nilugal

GST Practitioner & Accounts

8998 Points Posted on 06 February 2019

As per section 17(5) (h) of the CGST act 2017 Goods destroyed , you can not claim ITC and if you availed then reverse the same .

please confirm with others also.

vaibhav

student

193 Points Posted on 06 February 2019

what would be the case, if certain inventory write off from the books due to theft / shortage.

Ajay Kumar

50 Points Posted on 06 February 2019

As per section 17(5) (h) of the CGST act 2017 goods lost, stolen, destroyed, written off or disposed of by way of gift or free samples; you can not take credit in these case.

CA Sanjiv Kumar

CA

896 Points Posted on 06 February 2019

no itc available

pritesh

CA Final student

4750 Points Posted on 07 February 2019

No itc Not available as per sec 17(5).

Vinod Babu

11239 Points Posted on 07 February 2019

input tax credit shall not be available in respect of good lost, stolen, destroyed written off or disposed of by way of gift or free samples

Hemanta Samal

67 Points Posted on 07 February 2019

ITC can not be claimed if already claimed than u have to reverse it as per section 17(5)(h) of CGST Act, 2017

Vinod Babu

11239 Points Posted on 07 February 2019

ITC should be reversed for the goods destroyed.

As per the section- 17 (5) (h) of the CGST Act 2017,based on block credit states goods lost, stolen, destroy, written off or disposed by way of gift or free samples. you cannot claim ITC.
If you have wrongly claimed ITC it need to reverse at the same.

Ram Vishwakarma

Article assistant

84 Points Posted on 17 April 2019

Hey Hello Guys,

One doubt is there, Supose we are dealing in the Networking Product ( Wifi Router ), Now we have purchase some Umbrella, Wrist bands & stress ball and distributing these are free ( as a Promotion / Marketing ).

Do we have to reverse the ITC on these purchase under this cluase

"goods lost stolen destroyed written off or disposed of by way of gift or free samples"

Please guide us with the brief explanations

Becouse in my understanding we only have to reverse the ITC for the Netwotking Product is distributed as a Free / Gift / Stolen / Write off