ITC

Indirect Taxation

whether ITC can be available for goods normal loss in transit

Raji

CA Inter

★ 920

24-Apr-23 11:52

462

Answers (4)

Best Answer

Normal loss in unavoidable so ITC can take But abnormal loss ITC not allowed

Anand Sankaran

CA Inter

★ 3K+

24-Apr-23 15:31

No we cant take since credit is blocked as per Section 17(5).

Shiva Teja

Faculty

24-Apr-23 18:02

Shiva Teja Faculty

No we cant take since credit is blocked as per Section 17(5).

Even for normal loss also credit is blocked?

Thread Starter

Raji

CA Inter

★ 920

25-Apr-23 13:24

Thread Starter

Raji

Even for normal loss also credit is blocked?

Yes

Sudha Reddy

CA Final

★ 20K+

25-Apr-23 13:41

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