Gst payment regarding goods lost

If goods are destroyed or lost during transit, you generally do not need to pay GST on them. However, if you have already received payment from the customer, GST will be applicable. In such cases, the customer cannot claim Input Tax Credit (ITC), and you will need to reverse any ITC you may have claimed. The key factor in determining liability is who owned the goods at the time they were lost, which is typically determined by the sales agreement.