https://www.taxtmi.com/forum/issue?id=117421 Where VAT credit alone was claimed there is no ITC reversal on loss of capital goods; where ITC was claimed, reversal of actual credit may be required because such credits are blocked under the provision commonly referenced as 17(5). An alternative argument is that if the capital goods were used for business and taxable supplies the ITC had vested and no statutory reversal is provided, though that is an aggressive position. en-us Thu, 12 Aug 2021 15:27:20 +0530 Thu, 23 Jan 2025 15:54:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=117421 Where VAT credit alone was claimed there is no ITC reversal on loss of capital goods; where ITC was claimed, reversal of actual credit may be required because such credits are blocked under the provision commonly referenced as 17(5). An alternative argument is that if the capital goods were used for business and taxable supplies the ITC had vested and no statutory reversal is provided, though that is an aggressive position. Discussion-Forum GST Thu, 12 Aug 2021 15:27:20 +0530 https://www.taxtmi.com/forum/issue?id=117421