Condition for for taking Input Tax Credit (ITC) on Capital Goods [Section 16(3) of CGST Act] - GST Ready Reckoner - GST

Section 16(3) of CGST Act - No ITC on the amount of deprecation on the tax component - Where the registered person has claimed depreciation on the tax component of the cost of capital goods and plant and machinery under the provisions of the Income tax Act, 1961, the input tax credit on the said tax component shall not be allowed.