Does 17(5)(h) warrant reversal of ITC on Input services

Section 17(5)(h) of the CGST Act prohibits Input Tax Credit (ITC) for goods that are lost, stolen, destroyed, written off, or given away as gifts or free samples. This restriction, specified as "in respect of goods," prevents claiming credit for such items. A circular further clarifies that ITC for related inputs or services is not applicable under this section. Following an Advance Ruling by the Maharashtra bench, India Inc. anticipates forthcoming hurdles. Please do go through the snapshot of the issue examined by J the App by JustIDT.