https://www.taxtmi.com/forum/issue?id=119043 Whether ITC must be reversed when goods are returned after an extended period hinges on the entitlement test that credit is available only for inputs "used or intended to be used"; options include treating the movement as a fresh taxable supply with a tax invoice to enable the original seller to claim credit, or treating it as a purchase return with a commercial adjustment excluding tax where statutory time limits prevent a formal credit note, while factual circumstances may instead characterize the transfer as a resale. en-us Fri, 22 Mar 2024 23:21:07 +0530 Fri, 24 Jan 2025 10:40:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=119043 Whether ITC must be reversed when goods are returned after an extended period hinges on the entitlement test that credit is available only for inputs "used or intended to be used"; options include treating the movement as a fresh taxable supply with a tax invoice to enable the original seller to claim credit, or treating it as a purchase return with a commercial adjustment excluding tax where statutory time limits prevent a formal credit note, while factual circumstances may instead characterize the transfer as a resale. Discussion-Forum GST Fri, 22 Mar 2024 23:21:07 +0530 https://www.taxtmi.com/forum/issue?id=119043