https://www.taxtmi.com/forum/issue?id=114071 A discrepancy arises because the Cenvat rule required reversal of credit where stock is written off or a provision to write off is recorded, whereas the CGST provision disallows input tax credit only when goods are actually written off. Consequently, making a provision to write off in the books does not, by plain language of the GST provision, trigger ITC reversal. The government could clarify or amend the law, with differing retrospective or prospective effects, and taxpayers face audit and litigation risk until the issue is resolved. en-us Thu, 23 Aug 2018 11:42:03 +0530 Thu, 23 Jan 2025 15:55:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=114071 A discrepancy arises because the Cenvat rule required reversal of credit where stock is written off or a provision to write off is recorded, whereas the CGST provision disallows input tax credit only when goods are actually written off. Consequently, making a provision to write off in the books does not, by plain language of the GST provision, trigger ITC reversal. The government could clarify or amend the law, with differing retrospective or prospective effects, and taxpayers face audit and litigation risk until the issue is resolved. Discussion-Forum GST Thu, 23 Aug 2018 11:42:03 +0530 https://www.taxtmi.com/forum/issue?id=114071