No reversal of ITC on manufacturing process loss

Be it ghee or steel products, application of law would be the same: Madras HC Whether it is the manufacture of ghee or steel products, interpretation of provision related to Input Tax Credit (ITC) will not change.  The Madras High Court has held that no ITC reversal would be required on losses that occur during the manufacturing process of ghee. This is third ruling in less than two months on…