GST compliance towards Goods lost in transit

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....ST compliance towards Goods lost in transit<br> Query (Issue) Started By: - TEAM GST Dated:- 15-7-2026 Last Reply Date:- 16-7-2026 Goods and Services Tax - GST<br>Got 2 Replies<br>GST<br>RTP &#39;A&#3....

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....9; raised an E-invoice on RTP &#39;B&#39; for sale of 10kgs of goods . The entire stock of goods was burnt in transit due to an accident.Further &#39;A&#39; raised a Credit note on &#39;B&#39; and a D....

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....ebit note on the insurance ompany towards Goods lost in transit. Would this be the right approach for GST compliance. Reply By KALLESHAMURTHY MURTHY K.N.: The Reply: "A&#39;&#39; has taken t....

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....he right actions by raising a credit note, which nullifies the tax liability on &#39;B&#39; and issuing the debit note for recovery of loss from the insurance company; no GST applies to the insurance ....

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....settlement. However, &#39;A&#39; is required to reverse the Input Tax Credit availed on the destroyed goods. Reply By TEAM GST: The Reply: Thank you Sir<br> Discussion Forum - Knowledge Sharing ....

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