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GST Input Write Off, Goods and Services Tax - GST

Issue Id: - 114612
Dated: 11-2-2019
By:- Ethirajan Parthasarathy

GST Input Write Off


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Query

A dealer has some unutilized GST input tax in electronic credit ledger. From a particular date, the goods dealt by him becomes non taxable and hence writes off the balance of input tax in electronic ledger.

Can this write off be disallowed u/s 43B , since relevant input taxes were incurred in earlier years or can be disallowed as “ Prior Period expenses”.

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Showing Replies 1 to 3 of 3 Records

Page: 1


1 Dated: 11-2-2019
By:- SANJAY JAIN

Instead of writing off the input tax amount, you can add the same to cost of inventory and it will not be a prior period item. However you need to do the impairment test i.e. valuation of inventory at cost or Net realisation value whichever is less.


2 Dated: 11-2-2019
By:- DR.MARIAPPAN GOVINDARAJAN

Whether the ineligible input tax credit can be reversed?


3 Dated: 12-2-2019
By:- Ganeshan Kalyani

The input tax credit can be reversed from the GST portal also.


Page: 1

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