Section 16(3) and section 16(4) of CGST what says
This query is : Resolved
CA R SEETHARAMAN
(Expert)
15 May 2022
Section 16(3)
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.
Section 16(4) of the CGST Act, 2017 provides for the time limit to avail ITC of GST charged on the inward supply of goods or services or both. The time limit is 30th November.
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.
Section 16(4) of the CGST Act, 2017 provides for the time limit to avail ITC of GST charged on the inward supply of goods or services or both. The time limit is 30th November.
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