https://www.taxtmi.com/caselaws?id=387086 The ruling in this case determined that input tax credit (ITC) is not available for goods capitalized in the books of account, with only apparatus, equipment, and machinery fixed to earth by foundation or structural support qualifying as "plant and machinery" eligible for ITC. The applicant was entitled to eligible ITC in entirety for items used in generating electric energy, provided the entire production was captively consumed. Additionally, the applicant was required to reverse ITC on unutilized electric energy banked with specific entities, as it constituted a supply of exempt goods for which consideration was received. en-us Thu, 12 Sep 2019 00:00:00 +0530 Wed, 12 Mar 2025 15:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=387086 The ruling in this case determined that input tax credit (ITC) is not available for goods capitalized in the books of account, with only apparatus, equipment, and machinery fixed to earth by foundation or structural support qualifying as "plant and machinery" eligible for ITC. The applicant was entitled to eligible ITC in entirety for items used in generating electric energy, provided the entire production was captively consumed. Additionally, the applicant was required to reverse ITC on unutilized electric energy banked with specific entities, as it constituted a supply of exempt goods for which consideration was received. Case-Laws GST Thu, 12 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=387086