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No Reversal of ITC on Inputs lost in

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No Reversal of ITC on Inputs lost in

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  1. No Reversal of ITC on Inputs lost in Manufacturing Process

  2. 1. Brief facts of the case: • The petitioners are engaged in manufacturing of MS Billets and Ingots. MS scrap is an input which is used to manufacture billets and Ingots and such Billets and Ingots become input for the manufacture of TMT/CTD Bars. • As per inherent nature of the manufacturing process, a portion of Input losses during manufacturing process. • The respondent issued an impugned order to reverse a portion of ITC claimed by the Petitioners with respect to inputs lost under section 17(5)(h) of CGST Act, 2017.

  3. 2. Relevant Legal Extracts • Provisions for eligibility of ITC and reversal were also provided Tamil Nadu Value Added Tax Act, 2006 (“TNVAT Act”). Section 19 of TNVAT Act provided for various situations for grant and reversal of ITC. • Inclining with provisions of Section 19, similar provisions are also incorporated under Section 17 of CGST Act, 2017.

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