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<h1>Input Tax Credit reversal for supplied capital goods requires payment of adjusted ITC or tax on transaction value.</h1> A registered person supplying capital goods on which Input Tax Credit was taken must pay an amount equal to the ITC reduced by the prescribed percentage point, or tax on the transaction value, whichever is higher; refractory bricks, moulds and dies, jigs and fixtures supplied as scrap may be taxed on transaction value.