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Input Tax Credit is not required to be reversed on the inherent loss of inputs in manufacturing process

The Madras High Court in the case of ARS Steels & Alloy International Private Ltd has held that the marginal loss of inputs occasioned by the process of manufacture cannot be equated with the instances such as goods lost, stolen, destroyed, written off or disposed of, set out in Section17(5)(h) of the CGST Act which warrants reversal of input tax credits.

Source Krunal Shah

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