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SECTION 18(6) OF THE CGST ACT READ WITH RULES 40 AND 44 - Goods and Services Tax - GSTExtract Dear Sir At the time of supply of capital goods on which input tax credit is taken, do we need to comply both the conditions i.e paying tax on transaction value and reversing input tax credit for remaining useful life of the asset (reducing total input by 5% per quarter) or is it sufficient to pay any one i.e higher of the above two conditions. In CGST Act, 2017 ,it is clear if we pay higher of the both conditions. Kindly provide your reply with analysis quoting circulars, clarifications , advance rulings if any.
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