https://www.taxtmi.com/caselaws?id=767942 The AAAR Telangana ruled that a registered person must reverse Input Tax Credit (ITC) availed on inputs used to manufacture steel nails that were destroyed in a fire accident. The Authority held that while Section 16 of SGST Act allows ITC on inputs used in business, Section 17(5) specifically prohibits ITC on goods that are lost, stolen, destroyed or written off. The non-obstante clause in Section 17(5) gives it overriding effect over Section 16(1). The appellant's arguments regarding entitlement under Section 16(1) were rejected, and the original advance ruling requiring reversal of ITC was upheld. en-us Thu, 20 Feb 2025 00:00:00 +0530 Thu, 05 Jun 2025 09:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767942 The AAAR Telangana ruled that a registered person must reverse Input Tax Credit (ITC) availed on inputs used to manufacture steel nails that were destroyed in a fire accident. The Authority held that while Section 16 of SGST Act allows ITC on inputs used in business, Section 17(5) specifically prohibits ITC on goods that are lost, stolen, destroyed or written off. The non-obstante clause in Section 17(5) gives it overriding effect over Section 16(1). The appellant's arguments regarding entitlement under Section 16(1) were rejected, and the original advance ruling requiring reversal of ITC was upheld. Case-Laws GST Thu, 20 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767942