GST Input Write Off

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..... GST Input Write Off
Query (Issue) Started By: - Ethirajan Parthasarathy Dated:- 11-2-2019 Last Reply Date:- 12-2-2019 Goods and Services Tax - GST
Got 3 Replies
GST
Query A dealer has so .....

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..... me 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 thi .....

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..... s 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: The Reply: Instead of writing of .....

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..... f 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 realisat .....

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..... ion value whichever is less. Reply By DR.MARIAPPAN GOVINDARAJAN: The Reply: Whether the ineligible input tax credit can be reversed? Reply By Ganeshan Kalyani: The Reply: The input tax credit can .....

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..... be reversed from the GST portal also.
Discussion Forum - Knowledge Sharing .....

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