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of <h1>Taxable Person Must Pay Higher of Reduced ITC or Tax on Capital Goods Transaction Value When Supplied</h1> When a taxable person supplies capital goods on which input tax credit (ITC) has been claimed, they must pay an amount equal to the ITC taken, reduced by specified percentage points, or the tax on the transaction value of the capital goods, whichever is higher. This requirement ensures that the tax implications are appropriately addressed when capital goods are supplied after ITC has been utilized.
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