when have come in gross loss on trading and profit and loss account then whatever have sale there I claimed input goods can reversal on gst ?
any body have expert please clarify
Your query is not clear,
Pls elobrate your query.
Input tax credit is available on purchases of Goods from registered person, whereas when you sale Goods you charge GST from customer and pay that GST to Government after set off of Input tax credit paid on purchases.
if your sale price is less than your purchase price, than there is a gross loss in Trading account.
Because of less sale price your ITC get accumulated in ITC ledger.
CAclubindia
