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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ITC reversal Mandatory
Replies (10)
Quick Summary
Pls upload gstr1 status
GSTR1 1 status ?
Is receipent has taken input tax credit of Damage Goods?.
Yes and still damage Goods available in receiptent godown. supplier yet not demand to return back
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.
Prasad Sir, receiptent Filed His GRTR 3B
for March and April so can he reverse the ITC in may month
for March and April so can he reverse the ITC in may month
When he has taken ITC on damaged goods? which month?.
October 2022
Please discuss with your company CA , because I don't have all details of this Case .
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