AAAR Telangana upheld ITC reversal for goods destroyed in a fire

 In re Geekay Wires Limited (GST AAAR Telangana)  In the case In re Geekay Wires Limited, the GST Appellate Authority for Advance Ruling (AAAR) Telangana addressed whether Input Tax Credit (ITC) availed on inputs used in manufacturing finished goods, which were later destroyed in a fire, must be reversed. The AAAR upheld the earlier Advance Ruling Authority’s decision, requiring the reversal of ITC for such destroyed goods based on the provisions of Section 17(5)(h) of the GST Act. Legal Provisions Examined Section 17(5)(h) of the GST Act specifies that ITC is not available for goods that ...