https://www.taxtmi.com/caselaws?id=789593 Section 16(3) of the CGST Act bars input tax credit only on the specific tax component on which depreciation is actually claimed, as its purpose is to prevent double benefit between income-tax depreciation and GST credit. Where a banking company exercises the Section 17(4) option to avail only 50% of eligible credit and let the balance lapse, the unavailed portion is not hit by that prohibition because no depreciation is claimed on that balance. The restriction cannot be extended to deny credit on the entire tax component merely because depreciation was claimed on the non-availed portion. en-us Wed, 18 Feb 2026 00:00:00 +0530 Thu, 09 Apr 2026 12:40:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=789593 Section 16(3) of the CGST Act bars input tax credit only on the specific tax component on which depreciation is actually claimed, as its purpose is to prevent double benefit between income-tax depreciation and GST credit. Where a banking company exercises the Section 17(4) option to avail only 50% of eligible credit and let the balance lapse, the unavailed portion is not hit by that prohibition because no depreciation is claimed on that balance. The restriction cannot be extended to deny credit on the entire tax component merely because depreciation was claimed on the non-availed portion. Case-Laws GST Wed, 18 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=789593