TMI BlogGST Input Write OffX X X X Extracts X X X X X X X X Extracts X X X X ..... 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 ele ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ctronic 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 . - Reply By SANJAY JAIN - T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Reply = 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... inventory at cost or Net realisation value whichever is less. - Reply By DR.MARIAPPAN GOVINDARAJAN - The Reply = Whether the ineligible input tax credit can be reversed? - Reply By Ganeshan Kalyani ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - The Reply = The input tax credit can be reversed from the GST portal also. - GST Input Write Off - Query Started By: - Ethirajan Parthasarathy Dated:- 11-2-2019 Goods and Services Tax - GST - G ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ot 3 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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