https://www.taxtmi.com/forum/issue?id=115423 Input tax credit is disallowed where goods are destroyed, encompassing inputs, input services and capital goods used in their manufacture; absent a statutory calculation method, the department may determine tax by treating unaccounted goods as supplied. Practical approaches include estimating attributable ITC from bill-of-material and costing records, adopting a cost-of-production valuation for destroyed finished goods, or obtaining a cost accountant's certificate to substantiate the reversal amount; an alternative untested view posits no reversal for manufactured goods in absence of a legal mechanism. en-us Fri, 13 Sep 2019 17:42:30 +0530 Thu, 23 Jan 2025 15:54:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=115423 Input tax credit is disallowed where goods are destroyed, encompassing inputs, input services and capital goods used in their manufacture; absent a statutory calculation method, the department may determine tax by treating unaccounted goods as supplied. Practical approaches include estimating attributable ITC from bill-of-material and costing records, adopting a cost-of-production valuation for destroyed finished goods, or obtaining a cost accountant's certificate to substantiate the reversal amount; an alternative untested view posits no reversal for manufactured goods in absence of a legal mechanism. Discussion-Forum GST Fri, 13 Sep 2019 17:42:30 +0530 https://www.taxtmi.com/forum/issue?id=115423