Does GST needs to be separately paid for inventory write off?? Or Reversal of ITC of inventory written off is sufficient?
GST on inventory write off
Aswathy Nair (CA) (61 Points)
24 August 2022
4 Replies
Sai Allu
(754 Points)
Replied 24 August 2022
Under GST, the requirement to reverse ITC arises only in case of actual write off. No ITC reversal is required where the value of the goods have been partially written down, and provision to write off is made.
Aswathy Nair
(CA)
(61 Points)
Replied 25 August 2022
There is actual write off of inventory. So whether output GST needs to be paid for inventory write off.
sabyasachi mukherjee
(27574 Points)
Replied 25 August 2022
You are just google and writing the answers.
Read rule 3(5b).
itc is reversed.
there are certain interpretation of the law.
Read rule 3(5b).
itc is reversed.
there are certain interpretation of the law.
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 03 September 2022
You need to reverse ITC
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