https://www.taxtmi.com/article/detailed?id=9286 GST disallows credit for goods that are lost, stolen, destroyed, written off or disposed of as gifts or samples, but unlike the earlier CENVAT rule it contains no payment based reversal mechanism. The critical issues are timing of eligibility (at receipt versus until use), whether mere accounting write downs or provisions trigger denial, and whether denial extends to inputs, input services and capital goods used in finished goods or WIP. A purposive, narrow reading of "in respect of" and the principle that credit eligibility is determined when availed support the view that write off of FG or WIP does not automatically require reversal of credit on inputs or services already used. en-us Tue, 23 Jun 2020 09:17:53 +0530 Tue, 23 Jun 2020 09:17:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=9286 GST disallows credit for goods that are lost, stolen, destroyed, written off or disposed of as gifts or samples, but unlike the earlier CENVAT rule it contains no payment based reversal mechanism. The critical issues are timing of eligibility (at receipt versus until use), whether mere accounting write downs or provisions trigger denial, and whether denial extends to inputs, input services and capital goods used in finished goods or WIP. A purposive, narrow reading of "in respect of" and the principle that credit eligibility is determined when availed support the view that write off of FG or WIP does not automatically require reversal of credit on inputs or services already used. Articles Goods and Services Tax - GST Tue, 23 Jun 2020 09:17:53 +0530 https://www.taxtmi.com/article/detailed?id=9286