Dear sirs.
please clear my doubt regarding burning loss or process loss during the manufacturing process.
whether itc reverse or not
burning loss .5%
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whether itc will reverse on burning loss or process loss
Replies (3)
no reversal in this case my friend. kindly refer section 17(5)
ITC need not to be reversed for burning loss during manufacturing. It is a part of manufacturing. This is going to form cost of production.
Okay. thanks for your valuable advice
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