I am a supplier of goods.i have issued e way bill and carried out goods on 23.08.2020.
but goods destroyed in transit
does it consider supply or liable to pay tax
pls reply
4 Replies
Taha
(T)
(405 Points)
Replied 04 September 2020
U dont have to pay tax but as per section 17 sub section 5 you have to reverse itc on goods destroyed
Asha Kanta Sharma
(Manager - Finance & Accounts)
(36355 Points)
Replied 05 September 2020
Yes. It's not a supply. As you will be cancelled the Invoice. The recipient has not taken the goods or services. You will also have to claim Insurance on the same, if any.
Sagar Patel
(Tax and Business Consultant)
(11611 Points)
Replied 06 September 2020
Further, Goods destroyed or stolen or lost – ITC shall not be available as per Sec 17(5)(h)
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