We have purchased Paints of Rs 100 + 18% GST then some reason we scrap the material due to non saleable. Now we are going to sale this mateiral Rs 10 +18% GTS.
1. Is we will have to reverse ITC.
2. What is GST Treatment.
Manoj (Student) (267 Points)
22 August 2018We have purchased Paints of Rs 100 + 18% GST then some reason we scrap the material due to non saleable. Now we are going to sale this mateiral Rs 10 +18% GTS.
1. Is we will have to reverse ITC.
2. What is GST Treatment.
Sarath Rajendran
(Nil)
(2791 Points)
Replied 22 August 2018
No need to revise ITC because you are pay that amount (GST).
Normal GST treatment is needed
Pankaj Rawat
(GST Practitioner)
(55047 Points)
Replied 22 August 2018
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)