https://www.taxtmi.com/forum/issue?id=118616 Accumulated GST input credit unrecoverable due to inverted duty structure and failed refunds can be written off and treated as an allowable business expenditure under the income tax general expense provision; one view treats the write off as an expense when the taxpayer elects to abandon the credit rather than a prior period adjustment, and another relies on the rule that indirect taxes and related interest are deductible subject to actual payment. en-us Sat, 01 Jul 2023 15:17:01 +0530 Thu, 23 Jan 2025 15:54:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=118616 Accumulated GST input credit unrecoverable due to inverted duty structure and failed refunds can be written off and treated as an allowable business expenditure under the income tax general expense provision; one view treats the write off as an expense when the taxpayer elects to abandon the credit rather than a prior period adjustment, and another relies on the rule that indirect taxes and related interest are deductible subject to actual payment. Discussion-Forum Income Tax Sat, 01 Jul 2023 15:17:01 +0530 https://www.taxtmi.com/forum/issue?id=118616