“Always remember in GST,
that if goods are lost, stolen, destroyed or written off,
GST inputs must be reversed
There are some exceptions that allow you to keep the Input Tax Credit (ITC) you claimed without having to reverse it.
1.During the manufacturing or processing of goods, if any items are lost, stolen, destroyed, or written off.
2. When goods are sent for job work to undergo further processing.
3.When goods are being transported from one place to another.
