Reversal of Input Tax Credit - inputs consumed in dye ...

Reversal of Input Tax Credit Required for Destroyed Dye Intermediates Considered Finished Goods Under GST Rules.

January 11, 2021

Case Laws GST AAR

Reversal of Input Tax Credit - inputs consumed in dye intermediates (which is also a finished goods), where such goods have been destroyed in fire - - Since the said inputs and capital goods have been used in manufacture of finished goods that have been destroyed, the same are not used in course or furtherance of business. We, therefore, hold that the Input Tax Credit taken on the inputs used in the manufacture or production of goods i.e. intermediate dye and the Input Tax Credit taken on input services used in or in relation to the manufacture or production of said goods shall be reversed. - AAR

View Source

← Previous Next →

Reversal of Input Tax Credit - inputs consumed in dye ...

Reversal of Input Tax Credit Required for Destroyed Dye Intermediates Considered Finished Goods Under GST Rules.

January 11, 2021

Case Laws GST AAR

You may also like:

Reversal of CENVAT Credit - inputs consumed/utilized for production, at the work-in-progress stage, were destroyed in fire in the factory - The Tribunal examined the...

Reversal of Cenvat Credit - semi finished goods and intermediate goods destroyed during fire accident - demands raised of reversal of Cenvat Credit on the inputs confirmed - AT

Reversal of Cenvat Credit in case inputs are destroyed in an accident - it has to be concluded that goods which are destroyed in the fire in the bulk drug manufacturing...

Non-reversal of CENVAT Credit - Inputs lost during the process of manufacture are not required to be considered for reversal of credit - credit remains allowed.

Electronic commerce operators (ECOs) required to pay tax u/s 9(5) of CGST Act for specified services supplied through their platform are not required to reverse...

Input Tax Credit - Reversal / refunding of ITC - the Integrated Goods and Service Tax (IGST) was not paid and ‘NIL’ return had been filed by the seller but the...

Excise duty remission granted for goods destroyed by unavoidable fire accident as per Rule 21 of Central Excise Rules, 2002. Reversal of CENVAT credit on inputs used in...

A Case of Coerced Input Tax Credit Reversal - GST recovery during search and seizure proceedings.

Reversal of cenvat credit - It is now a settled proposition that reversal of cenvat credit even after manufacture of the goods and/or clearance thereof amounts to not...

Reversal of CENVAT Credit - for the purpose of formula under rule 6(3A) is only total CENVAT credit of common input service and cannot include CENVAT credit on input...

Cenvat Credit - 100% EOU - Reversal of cenvat credit availed on inputs removed from the factory as such against CT-3 certificate - no reversal of credit is required - AT

Reversal of CENVAT Credit - clearance of inputs as such - The appellant is not required to reverse the credit on input services that was taken along with duty paid on such inputs.

Input Tax Credit - credit was not effected in Form GSTR-2A - If on examination of the evidence submitted by the assessee, the assessing officer is satisfied that the...

Utilisation of Input Tax Credit - outward supply of Gold & Silver bullion - The applicant/appellant can use the Input Tax Credit Balance available in its Electronic...

Input tax credit - eligibility of benefit of input tax credit claimed after six months from the date of invoice - the Apex court has held that credit is indefeasible....

Quick Updates: