Menu
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.
Recent Threads
- Luxury premium car - Lease or Loan
- Income tax act 40 A (3)
- Transmission of deceased's shares in physical form
- Shall I pay GST payment for unkonwnly cancelled in
- Error in GSTR1 filing for October 25
- Inverted Rate structure .
- Exemption to be climed
- GST TDS u/s 51 Applicability on RBI and it's subs
- Time allowed to buy another asset
- ITR not processed for the FY 2024-25
Related Threads
CAclubindia
