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Input Tax Credit
if Goods are received in lots & there are loss in transit for which payment is made in full can ITC be claimed for full quantity.
Replies (4)
No, ITC will not be claimed for full quantity but for only those inputs which you receive
Thanks. Mbn.
some percentage of loss in transit is allowed ITC
Natural and expected losses like evaporation or glass breakages etc are example to avail full credit.
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