Condonation of delay permits statutory appeal restoration where inadequate service explanation prevented consideration of reassessment and taxable-inc...
Limitation in customs appeals permits exclusion for bona fide refund proceedings, enabling restoration of Bill of Entry assessment challenges on merit...
Warehousing permission requires deposit at the designated bonded warehouse; unauthorised diversion triggers confiscation, redemption fine and importer...
The AAR ruled that no GST is payable on goods (gas) lost during transit as no supply occurred, since the loss happened before delivery to the customer and prior to the place and time of supply being established. However, the applicant must reverse Input Tax Credit (ITC) on inputs used in manufacturing the goods subsequently lost in transit. The authority determined that such inputs fail the "proper end use" condition under Section 16(1) of CGST Act, as they were not ultimately used in furtherance of business through a taxable outward supply. The ITC reversal is required under Section 17(5)(h) read with Section 16, as the goods were lost/destroyed during transit.
The AAR ruled that no GST is payable on goods (gas) lost during transit as no supply occurred, since the loss happened before delivery to the customer and prior to the place and time of supply being established. However, the applicant must reverse Input Tax Credit (ITC) on inputs used in manufacturing the goods subsequently lost in transit. The authority determined that such inputs fail the "proper end use" condition under Section 16(1) of CGST Act, as they were not ultimately used in furtherance of business through a taxable outward supply. The ITC reversal is required under Section 17(5)(h) read with Section 16, as the goods were lost/destroyed during transit.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4796
Join Channel
TaxTMI 
