https://www.taxtmi.com/caselaws?id=402739 The Authority for Advance Ruling ruled that the company must reverse input tax credit on inputs consumed in dye intermediates destroyed in a fire. Citing the Gujarat Goods and Services Tax Act, particularly Section 17(5), which restricts input tax credit on goods lost or destroyed, the Authority held that the provisions mandate the reversal of input tax credit in such circumstances. The decision was based on the interpretation of relevant GST laws, emphasizing the inadmissibility of input tax credit on inputs used in manufacturing goods that were subsequently destroyed. en-us Wed, 14 Oct 2020 00:00:00 +0530 Sat, 22 Mar 2025 11:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402739 The Authority for Advance Ruling ruled that the company must reverse input tax credit on inputs consumed in dye intermediates destroyed in a fire. Citing the Gujarat Goods and Services Tax Act, particularly Section 17(5), which restricts input tax credit on goods lost or destroyed, the Authority held that the provisions mandate the reversal of input tax credit in such circumstances. The decision was based on the interpretation of relevant GST laws, emphasizing the inadmissibility of input tax credit on inputs used in manufacturing goods that were subsequently destroyed. Case-Laws GST Wed, 14 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402739