sec 17(5)(h) cgst
Kishor Lulla (990 Points)
18 August 2019My clients sugar of rs 50 laks destroyed in flood. His N P is hardly 2%. To cover this loss, he has to do turnover of rs 25 cr. The Govt is not going to pay him a single rupee which it should do to support him.
Now the law will reverse his I T C of rs 245000 plus interest plus penalty.
Is it not a Pathani Law? We should point out this issue to F M.
Kishor.