Reversal of ITC on loss in transit

Chander Pal Singh (PROPRIETOR) (73 Points)

07 July 2018  
We had sent goods on approval and the same has been lost in transit. what would the treatment under GST regime???

Should we reverse the input credit taken earlier?

if there is no itc then what would be the treatment.

and what would be the treatment if goods that lost in transit, we party ITC taken.


pls help.