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ITC WHEN SOLD AT LOSS

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CA
115 Points Posted on 24 July 2022
If goods costing Rs 105 is sold at Rs 100 than balance input of gst will need to be reversed or whether it can be utilised for other output tax liability?
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On 24 July 2022 at 09:41 Report
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GST Practitioner & Accounts
15093 Points Posted on 24 July 2022
Is it second hand goods?.
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On 24 July 2022 at 11:29
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CA
115 Points Posted on 24 July 2022
No, it's normal trading goods of business
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On 24 July 2022 at 12:32
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12 Points Posted on 24 July 2022
If it is capital goods then refer rule 44
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On 24 July 2022 at 22:29
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1011 Points Posted on 25 July 2022
Can utilise in other product
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On 25 July 2022 at 17:16


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