Tax Management India. Com
                        Law and Practice: A Digital eBook ...

☞ Data-bank

TMI - Tax Management India. Com
Case Laws Acts Notifications Circulars Classification Forms Articles News D. Forum
Highlights
What's New  Latest Cases 

Share:      

        Home        
 
Discussions Forum
Home Forum Goods and Services Tax - GST This
A Public Forum.
Anyone can participate to share knowledge.
We acknowledge the contributions of Experts/ Authors.

Submit new Issue / Query

← Previous Next →

17 (5) GOODS DAMAGE & SCRAP SALE, Goods and Services Tax - GST

Issue Id: - 117569
Dated: 14-10-2021
By:- santosh yadav
17 (5) GOODS DAMAGE & SCRAP SALE

  • Contents

Dear Professional,

We had bought the goods 2 years back due to non-sales on time got spoiled which we sold in scrap should we refund the input tax of the value which is difference of scrap sale and purchase price

Post Reply

Posts / Replies

Showing Replies 1 to 5 of 5 Records

1 Dated: 15-10-2021
By:- KASTURI SETHI

In my view, reversal is not required on the following grounds :-

(i) Not hit by Section 17(5)(h) of CGST Act. The word. 'spoiled' does not find place in this sub-clause.

"(h) goods lost, stolen, destroyed, written off or disposed of by way of gift or free samples; and

(ii) Sale of scrap i.e. spoiled goods are covered in the phrase, "used in the course or furtherance of his business" as per Section 16 (1) of CGST Act


2 Dated: 15-10-2021
By:- Shilpi Jain

Agree with kasturi sir. Once goods sold with payment of tax, be it whatever value , ITC would be eligible.


3 Dated: 15-10-2021
By:- Ganeshan Kalyani

No need to reverse the input tax credit as clarified by experts.


4 Dated: 19-10-2021
By:- RAMASWAMY Advocate

yes, in my view the expert opinions appear to be correct.


5 Dated: 20-10-2021
By:- KASTURI SETHI

Sh.Ramaswamy Ji,

Thanks for your concurrence with the views. I could not digest the word, 'appears'. In my views, the word, 'appears' contains the element of uncertainty. In other words, the absence of confirmation. Do you agree ? Your views please, sir.


1

Post Reply

← Previous Next →

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || Database || Members || Refer Us ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.
|| Site Map - Recent || Site Map || ||