1.What is the rate of interest on itc reversal as per section 17(5)(h) goods destroyed, damaged, goods lost, write off, disposed by way of free sample or gift?
2.Interest is calculated from which date? date of above incident (Damage, lost, destroyed,write off, disposed by way of free sample or gift) or date of itc availment?
Gst related set17(5)
Replies (1)
1. 18% interest
2. The interest to be calculated is from the date of the invoice issued by the supplier of such goods or services
2. The interest to be calculated is from the date of the invoice issued by the supplier of such goods or services
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