Reversal of GST if capital goods partly destroyed

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20 Points Posted on 16 January 2023
If capital goods destroyed by fire partly say 50%.It can be used by incurring major capital expenditure.
Is i need to reversal of GST .?
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On 16 January 2023 at 16:06 Report
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This discussion addresses the GST implications when capital goods are partially destroyed, for example, by fire. It confirms that GST reversal is indeed required in such scenarios. The key question explored is whether this reversal should be proportional to the damage or a full reversal, especially if the remaining portion can still be used after significant capital expenditure.

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22 Points Posted on 17 January 2023
Yes there is a need of reversal of gst.
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On 17 January 2023 at 06:35
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20 Points Posted on 17 January 2023
Proportionaly or full?
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On 17 January 2023 at 12:59

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