input tax credit
This query is : Resolved
11 October 2017
i have paid for 100 units of goods .
but received 95 units .
5 units lost in wastage
.
how adjustment will be made in GST ?
11 October 2017
Issue credit note for same.....
11 October 2017
Sorry to say different answer....
The waste of 5 units is returned to your supplier then you ll give debit note to your supplier...
If it's not returnable and it's based on your business nature. You ll be revise the ITC in return.....
(Wait on Suggestions from CA Rashmi Gandhi)
Message likes :
1 times
11 October 2017
Very much agreed to Raja PM.
Actually i read the whole query after replying as you already paid the amount then no need to issue debit note.
You have to revisw your ITC in this case.
11 October 2017
No ITC available for lost or destroyed goods.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Tds on building rent monthly
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- RCM INVOICING FROM NOV-2024
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Sale of property furniture sale
- TDS under section and rate of TDS
- GST input on scooter purchased
- TDS under section 194Q and TCS under section 206C
- GST input on car insurance and repairs
- GST input on Diwali gift to employee
- GST input on Mobile Handset
- Material and freight in same invoice
- TDS under section 194J inclusive of reimbursement of expenses
- TDS on Material and Labour in same invoice
- Should I be worried about and rectify reporting Jan,Feb ,March 2024 foreign salary in schedule FA?
Trending Online Classes
CAclubindia
