TaxTMI 
TaxTMI 
Allowability of write off of accumulated gst credit
X X X X Extracts X X X X
X X X X Extracts X X X X
....llowability of write off of accumulated gst credit<br> Query (Issue) Started By: - manish rupani Dated:- 1-7-2023 Last Reply Date:- 3-7-2023 Income Tax<br>Got 3 Replies<br>Income Tax<br>I would like t....
X X X X Extracts X X X X
X X X X Extracts X X X X
....o know whether accumulated GST credit due to inverted duty structure, of earlier years and also not able to get refund from GST authorities can be claimed as an expense / writing off under section 37(....
X X X X Extracts X X X X
X X X X Extracts X X X X
....1) of the Income Tax? If yes, please provide me any supporting documents or case laws. Thank you in advance. Reply By Padmanathan Kollengode: The Reply: In my personal opinion, it is allowable expen....
X X X X Extracts X X X X
X X X X Extracts X X X X
....diture and not a prior period expenditure. This is because it becomes expenditure only when it decided to be written off based on the position in GST law. Reply By manish rupani: The Reply: Thanks ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....a lot Shri Padmanathan Kollengode Reply By Charu Tyagi: The Reply: As per Section 37, Any Indirect taxes or any interest thereon shall be allowed as expense subject to section 43 i.e. Payment actual....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ly made. So, therefore writing off accumulated balance of GST is allowable deduction.<br> Discussion Forum - Knowledge Sharing ....