AAR, GST not payable on goods lost in transit, but ITC reversal required: Case of INOX Air Products Private Limited , AAR Gujarat Ruling Dated 25th March 2025. AAR ruled that GST is not payable on the goods lost in transit. The applicant is not eligible for the ITC in respect of inputs used in the goods lost in transit & hence is required to reverse the ITC in terms of section 17(5)(h) of the CGST Act. (AAR Gujarat Ruling Dated 25/03/2025)