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ITC reversal Mandatory

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Pivate
1491 Points Posted on 02 June 2023
Sir,

it's mandatory to reversal ITC supplier adjust some amount in his books of account FY 2022-23 no show his GSTR1and no info to receiptent due to some Goods damage. So incase receiptent needs ITC reversal to Govt.
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On 02 June 2023 at 09:00 Report
Replies (10)
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Profession Business
28202 Points Posted on 02 June 2023
Pls upload gstr1 status
44 Reply
On 02 June 2023 at 09:48
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Pivate
1491 Points Posted on 02 June 2023
GSTR1 1 status ?
2 Reply
On 02 June 2023 at 09:59
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GST Practitioner & Accounts
15083 Points Posted on 02 June 2023
Is receipent has taken input tax credit of Damage Goods?.
24 Reply
On 02 June 2023 at 10:16
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Pivate
1491 Points Posted on 02 June 2023
Yes and still damage Goods available in receiptent godown. supplier yet not demand to return back
2 Reply
On 02 June 2023 at 11:28
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GST Practitioner & Accounts
15083 Points Posted on 02 June 2023
As per section 17(5)(H) of the CGST Act, Input tax credit on damaged goods not available, so receipent has to reverse ITC , with interest.
24 Reply
On 02 June 2023 at 12:18
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Pivate
1491 Points Posted on 02 June 2023
Prasad Sir, receiptent Filed His GRTR 3B
for March and April so can he reverse the ITC in may month
2 Reply
On 02 June 2023 at 13:20
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GST Practitioner & Accounts
15083 Points Posted on 02 June 2023
When he has taken ITC on damaged goods? which month?.
24 Reply
On 02 June 2023 at 15:06
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Pivate
1491 Points Posted on 02 June 2023
October 2022
2 Reply
On 02 June 2023 at 17:02
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GST Practitioner & Accounts
15083 Points Posted on 02 June 2023
Please discuss with your company CA , because I don't have all details of this Case .
24 Reply
On 02 June 2023 at 17:57
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SEO Sai Gr. Hosp.
211596 Points Posted on 08 June 2023

"Sorry, I am not a featured member."

For featured members contact.... https://www.caclubindia.com/catalogue/featured.asp
 

581 Reply
On 08 June 2023 at 12:27


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