ITC on waste?

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13 Points Posted on 06 September 2020
I bought 100 tons of scrap, on which tax was paid, then sold 50 tons of scrap and if 50 tons of waste came out, what would happen to the 50 tons of ITC
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On 06 September 2020 at 20:10 Report
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This discussion addresses a common query regarding Input Tax Credit (ITC) when dealing with scrap material. The user purchased 100 tons of scrap on which tax was paid, but only 50 tons were usable scrap, with the remaining 50 tons being waste. The core question is how to treat the ITC related to the 50 tons of waste material, especially since ITC was claimed on the entire 100 tons.

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account -GST
1560 Points Posted on 07 September 2020
Please give details
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On 07 September 2020 at 05:52
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13 Points Posted on 07 September 2020
Factory se purana scrap liya or tax paid kiya. or 100 tons me se kewal 50 tons hi scrap market me sale k liye sahi nikla. baki sab kachra tha.jo kisi kam ka nhi tha. lekin input tax credit pure 100 tons ki available he to us 50 tons ki input ka kya treatment krna pdega.
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On 07 September 2020 at 18:26

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