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Tax Treatment of goods seized

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CA Article
69 Points Posted on 02 December 2017
Are the goods seized by gst department for non payment of tax will be treated as supply?
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On 02 December 2017 at 10:23 Report
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SEO Sai Gr. Hosp.
211624 Points Posted on 02 December 2017

No      

581 Reply
On 02 December 2017 at 17:57
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CA Article
69 Points Posted on 03 December 2017
why ? can u explain!
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On 03 December 2017 at 13:01
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SEO Sai Gr. Hosp.
211624 Points Posted on 03 December 2017

Simply, it is not sell of the goods........

581 Reply
On 03 December 2017 at 14:11
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CA Article
69 Points Posted on 03 December 2017
then we have to reverse itc on those goods or not?
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On 03 December 2017 at 16:27
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SEO Sai Gr. Hosp.
211624 Points Posted on 03 December 2017

Yes. when the settlement made by the concerned department.

581 Reply
On 03 December 2017 at 17:12
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CA Article
69 Points Posted on 03 December 2017
it is a permanent transfer of business asset,so we have to treat it as supply? ..whats ur view
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On 03 December 2017 at 22:19
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SEO Sai Gr. Hosp.
211624 Points Posted on 04 December 2017

Confiscated goods can never be supply........ it gets reduced from stocks........

581 Reply
On 04 December 2017 at 08:23


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