11 May 2011
WE HAVE BILLED SOME MATERIAL TO A PARTY IN BIKANER FROM JAIPUR. GOOD CAUGHT FIRE IN BIKANER AT TRANSPORTERS GODOWN. KINDLY CLEAR ABOUT VAT IMPLICATION. EITHER WE WILL CANCEL THE BILL AND TAKE THE INPUT OR SOME ANY OTHER THING.
11 May 2011
Cancel the bill and show it as goods destroyed by fire. You will get the input tax credit on that. In case of the goods stolen or destroyed, the input tax credit need not be reversed or disallowed.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
11 May 2011
Amol ji, i am satisfied with your reply. Kindly tell me , is there something act/rule for this type of situation.
14 May 2011
goods destroyed at transporters end, need police FIR, investigation report and more documents as per the satisfaction of your sales tax officer.
Input credit on such goods would get reversed in case of cancellation of invoice.